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We investigate the economic resilience of the Italian regions between 2008 and 2019. We then calculate some indices of resistance as well as recovery for both real GDP per capita and employment. We show that during (and after) recessions such indices follow different patterns and the Southern...
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shocks to aggregate uncertainty, I introduce a small, time-varying risk of economic disaster in a standard real business … cycle model. The paper establishes two simple theoretical results: first, when the probability of disaster is constant, the … risk of disaster does not affect the path of macroeconomic aggregates - a "separation theorem" between macroeconomic …
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