Saverio Simonelli is Associate Professor of Economics at the University of Naples Federico II and research fellow at CSEF, and holds a PhD in Economics from the University of Naples Federico II. His current research focuses on fiscal policy, macroeconomic forecasting and instability of financial institutions. He is a co-founder of Now-Casting.com.
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Exploiting three earthquakes in Italy as quasi-experiments, we analyse 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 liquidity of households’ wealth