The holiday can be considered a good for which the tourist pays a two-part tariff (TPT). The variable part, roughly proportional to the length of stay, is charged on top of a fixed price, paid to get to the destination (typically due to travel costs). We analyse the policy implications of this...

In this paper we evaluate the existence of consumption risk sharing among specific geographical areas within Italy. By using an approach based upon the cointegration properties of the series and the error correction mechanisms, we analyze the emergence of risk sharing in the long- and in the...