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Micro and Macro Resilience Measures of an Economic Crisis

Author

Listed:
  • Cristina Bernini

    (University of Bologna
    University of Bologna – Campus of Rimini)

  • Maria Francesca Cracolici

    (University of Palermo)

  • Peter Nijkamp

    (Alexandru Ioan Cuza University)

Abstract

Using Italian Households Budget Survey data over the period 1997-2013, a Cragg model in a life-cycle context is specified to compare the consumption behaviour in the pre- and post-crisis time and develop different micro and macro measures of resilience against crisis shocks. Cohort profiles for participation in and for consumption of tourism services in the pre- and post-crisis time are determined so as to explore the households’ resilience by generations. Next, the households’ resilience according to socio-demographic characteristics is addressed. As for the macro-resilience, combining individual expenditure elasticity, we examine whether and how Italian regions have responded to the recent economic crisis.

Suggested Citation

  • Cristina Bernini & Maria Francesca Cracolici & Peter Nijkamp, 2020. "Micro and Macro Resilience Measures of an Economic Crisis," Networks and Spatial Economics, Springer, vol. 20(1), pages 47-71, March.
    • Handle: RePEc:kap:netspa:v:20:y:2020:i:1:d:10.1007_s11067-019-09470-9
    DOI: 10.1007/s11067-019-09470-9
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