Balli, Faruk; Pericoli, F.M.; Pierucci, E. - Crawford School of Public Policy, Australian National … - 2015
Applying the variance decomposition developed by Asdrubali et al. (1996), the paper explores for the first time the role and the extent of smoothing channels at a micro level using a sample of UK households. Our empirical analysis of British Household Panel Survey (BHPS) data concludes that the...