@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},
 urn = {},
 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.},