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Regional redistribution and risk sharing in Italy: the role of different tiers of government

Regionale Umverteilung und Risikoteilung in Italien: die Rolle der verschiedenen Regierungsebenen
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Zanardi, Alberto; Arachi, Giampaolo; Ferrario, Caterina

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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.
Keywords tax policy; redistribution
Classification Economic Policy; Area Development Planning, Regional Research
Free Keywords Fiscal policy; Redistribution; Risk sharing; Inter-governmental relations; Regions; Risikoteilung; Beziehungen zwischen Regierungen; Regionen
Document language English
Publication Year 2010
Page/Pages p. 55-69
Journal Regional Studies, 44 (2010) 1
Status Postprint; peer reviewed
Licence PEER Licence Agreement (applicable only to documents from PEER project)