Acconcia, Antonio; Corsetti, Giancarlo; Simonelli, Saverio - Centro Studi di Economia e Finanza (CSEF) - 2015
Exploiting three earthquakes in Italy as quasi-experiments, we analyze the response of homeowners’ consumption to transfers targeted to finance housing repair and reconstruction. To the extent that funds are made available up-front, these transfers are akin to loans, mainly affecting the...