We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

households. Using data from the Bank of Italy's Survey on Household Income and Wealth covering the financial crisis, we are able … separately. We find that Italian households were able to smooth on average about 85% of shocks to household head's earnings in … both 2008-2010 and 2010-2012 spells. The most important smoothing mechanisms turn out to be self‐insurance through savings …

We examine the household consumption response to fluctuations in income and uncertainty, exploiting a large panel …, both household-specific income uncertainty and local labor market uncertainty depress consumption spending. We also find …