Role of Fiscal Transfers (Poghosyan et al.)

The role of fiscal transfers in smoothing regional shocks: Evidence from existing federations by Tigran Poghosyan, Abdelhak Senhadji and Carlo Cottarelli published by IMF (7/2016). “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)…”

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