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.

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

ARACHI, GIAMPAOLO;ZANARDI, ALBERTO
2010

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.
Arachi, Giampaolo; Ferrario, C.; Zanardi, Alberto
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Utilizza questo identificativo per citare o creare un link a questo documento: http://hdl.handle.net/11565/3800502
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