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Fiscal flows and financial markets: to what extent do they provide risk sharing in Sweden?

[Zeitschriftenartikel]

Andersson, Linda

Zitationshinweis

Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-133783

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Abstract The objective of this paper is to analyze the amount of risk sharing that takes place between regions in Sweden. Based on a similar empirical specification as suggested by ASDRUBALI et al., 1996, we find that the capital market is the largest source of risk sharing of an exogenous change in gross regional product in Sweden. Still, roughly 20 percent of a change in regional output is smoothed among the regions through the fiscal system. There is also some evidence that there are regional differences in the sense that regions located in the south rely more on the capital market as a source of insurance against shocks in output, while the tax and transfer systems provide a larger extent of risk sharing for regions located in the north.
Klassifikation Volkswirtschaftslehre; Raumplanung und Regionalforschung
Freie Schlagwörter Risk sharing; Taxes; Transfers; Intergovernmental relations; Capital market
Sprache Dokument Englisch
Publikationsjahr 2009
Seitenangabe S. 1003-1011
Zeitschriftentitel Regional Studies, 42 (2009) 7
DOI http://dx.doi.org/10.1080/00343400701654129
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)
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