The Role of Fiscal Transfers in Smoothing Regional Shocks : Evidence from Existing Federations

Evidence from Existing Federations

The Role of Fiscal Transfers in Smoothing Regional Shocks : Evidence from Existing Federations
We assess the extent to which fiscal transfers smooth regional shocks in three large federations: the U.S., Canada, and Australia. We find that fiscal transfers offset 4-11 percent of idiosyncratic shocks (risk-sharing) and 13-24 percent of permanent shocks (redistribution). This fiscal insurance largely operates through automatic stabilizers... READ MORE...

Publication date: July 2016
ISBN 9781498379601
$18.00

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