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Subnational fiscal balance, interregional redistribution and risk-sharing in Italy

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  • Luca Gandullia
  • Lucia Leporatti

Abstract

This paper provides new estimates of redistribution and risk-sharing across regional territories accomplished by the Italian public sector. For the first time, subnational governments’ fiscal balances are explicitly considered and a different methodological approach is followed, providing risk-sharing estimates also at a regional level. It is found that public policies only slightly reduce permanent differences in per capita gross domestic product (GDP) across regions (0.9–2.7%), but, at the same time, they enhance idiosyncratic shocks by 4.8%. Risk-sharing estimates differ significantly among regions that can partially self-insure through fiscal deficits. New estimates diverge from those assessed with traditional methods and suggest important policy implications.

Suggested Citation

  • Luca Gandullia & Lucia Leporatti, 2020. "Subnational fiscal balance, interregional redistribution and risk-sharing in Italy," Regional Studies, Taylor & Francis Journals, vol. 54(3), pages 318-328, March.
    • Handle: RePEc:taf:regstd:v:54:y:2020:i:3:p:318-328
    DOI: 10.1080/00343404.2019.1656332
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    Cited by:

    1. Matteo Deleidi & Davide Romaniello & Francesca Tosi, 2021. "Quantifying fiscal multipliers in Italy: A Panel SVAR analysis using regional data," Papers in Regional Science, Wiley Blackwell, vol. 100(5), pages 1158-1177, October.

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