The Big Chill: Italian Family Budgets after the Great Recession

in Italian Politics
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Between 2007 and 2013, real per capita income and net wealth of Italian households fell by 13 and 10 percent, respectively. Unprecedented in the country's post-war record by size and duration, this deterioration of household finances was accompanied by more muted changes in inequality and relative poverty. Only absolute measures of consumption and income insufficiency surged. The more serious worsening of personal economic conditions for the young than for adults and, especially, the elderly is a disturbing legacy of the recessions of 2008–2009 and 2011–2013.

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