Princeton University Library Catalog

The Role of Fiscal Transfers in Smoothing Regional Shocks [electronic resource] : Evidence from Existing Federations / Tigran Poghosyan.

Author:
Poghosyan, Tigran [Browse]
Format:
Book
Language:
English
Published/​Created:
[Washington, D.C.: International Monetary Fund, 2016]
Description:
1 online resource (34 p.)
Series:
IMF Working Papers [More in this series]
Summary note:
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.
Source of description:
Description based on print version record.
ISBN:
1498379605 :
Doi:
  • 10.5089/9781498379601.001
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