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 found that public policies in Italy significantly reduce differences in per-capita GDP across regions. On the other hand, public budget, far from providing insurance against idiosyncratic shocks, greatly emphasize income fluctuations across regions.
Regional redistribution and risk sharing in Italy: the role of different tiers of government
FERRARIO, Caterina;
2006
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 found that public policies in Italy significantly reduce differences in per-capita GDP across regions. On the other hand, public budget, far from providing insurance against idiosyncratic shocks, greatly emphasize income fluctuations across regions.File in questo prodotto:
Non ci sono file associati a questo prodotto.
I documenti in SFERA sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
