This essay examines some asymmetries in the productivity catch up across industries and regions and in the role of investment to foster output dynamics. Results from OLS, probit and truncated regressions for predicting whether output per worker across local economic sectors in the Italian...

This paper offers a brief survey of the empirical literature on the consumption insurance hypothesis and an econometric analysis of risk- sharing in an integrated economic area. The results in­dicate that the observed departures from full consumption smoothing across the Italian regions are...