In the last decade, Italy has experienced a convergence of regional nominal interest rates on current accounts and short-term credit, whereas the convergence of real rates has been much weaker. In a risk-sharing perspective, however, these outcomes allow for a high degree of neutralization of idiosyncratic shocks on regional consumption.
Brighi P., Scorcu A. (2008). Risk Sharing and the Banking Channel. An Empirical Note about Regional Interest Rates in Italy. Bologna : CIB. Università degli Studi, Bologna. Alma Mater Studiorum.
Risk Sharing and the Banking Channel. An Empirical Note about Regional Interest Rates in Italy
BRIGHI, PAOLA;SCORCU, ANTONELLO EUGENIO
2008
Abstract
In the last decade, Italy has experienced a convergence of regional nominal interest rates on current accounts and short-term credit, whereas the convergence of real rates has been much weaker. In a risk-sharing perspective, however, these outcomes allow for a high degree of neutralization of idiosyncratic shocks on regional consumption.File in questo prodotto:
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