This paper provides estimates of the redistribution and risk sharing across regional jurisdictions accomplished by the public sector in Italy. In this analysis the multi-level structure of the Italian government and the financial relations which link the different layers of government are explicitly considered. Using panel data for the period 1996-2002 we find that public policies in Italy significantly reduce differences in per-capita GDP across regions. However public budget, far from providing insurance against idiosyncratic shocks, greatly emphasizes income fluctuations across regions.
Regional redistribution and risk sharing in Italy: the role of different tiers of government / G. Arachi, C. Ferrario, A. Zanardi - In: 'Regional and Urban Modeling', Proceedings of the EcoMod Conference held in Brussels, Belgium, June 1-2, 2007[s.l] : ECOMOD Press, 2007. - ISBN 0976329514. - pp. 1-31 (( convegno EcoMod Conference on 'Regional and Urban Modeling' tenutosi a Bruxelles nel 2007.
Regional redistribution and risk sharing in Italy: the role of different tiers of government
C. Ferrario;
2007
Abstract
This paper provides estimates of the redistribution and risk sharing across regional jurisdictions accomplished by the public sector in Italy. In this analysis the multi-level structure of the Italian government and the financial relations which link the different layers of government are explicitly considered. Using panel data for the period 1996-2002 we find that public policies in Italy significantly reduce differences in per-capita GDP across regions. However public budget, far from providing insurance against idiosyncratic shocks, greatly emphasizes income fluctuations across regions.File | Dimensione | Formato | |
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