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|z 9781498379601
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|a Poghosyan, Tigran.
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|a The Role of Fiscal Transfers in Smoothing Regional Shocks :
|b Evidence from Existing Federations /
|c Tigran Poghosyan, Abdelhak Senhadji, Carlo Cottarelli.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2016.
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|a 1 online resource (34 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a 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 embedded in a central budget primarily through federal taxes and transfers to individuals, rather than transfers from the central government to state budgets. These results have implications for the design of fiscal risk-sharing mechanisms in the euro area.
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|a Mode of access: Internet
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|a Cottarelli, Carlo.
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|a Senhadji, Abdelhak.
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|a IMF Working Papers; Working Paper ;
|v No. 2016/141
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| 856 |
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2016/141/001.2016.issue-141-en.xml
|z IMF e-Library
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