@article { Zanardi2010,
title = {Regional redistribution and risk sharing in Italy: the role of different tiers of government },
author = {Zanardi, Alberto and Arachi, Giampaolo and Ferrario, Caterina },
journal = {Regional Studies },
number = {1 },
pages = {55-69 },
volume = {44 },
year = {2010 },
url = {http://nbn-resolving.de/urn:nbn:de:0168-ssoar-215966 },
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.},