Federal Insurance of the U.S. States: An Empirical Investigation
AbstractWe investigate channels of federally provided income insurance for U.S. States, finding that a major part of federal insurance is provided through transfers. We compare the "bang for the buck" of various fiscal institutions, finding that unemployment benefits are dramatically more efficient in providing income insurance than any other fiscal institution. This finding suggests that with an appropriately designed income insurance scheme it may be possible to achieve considerable risk sharing in a future European Monetary Union with a relatively modest budget.
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Bibliographic InfoPaper provided by Tel Aviv in its series Papers with number 16-97.
Length: 18 pages
Date of creation: 1997
Date of revision:
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Postal: Israel TEL-AVIV UNIVERSITY, THE FOERDER INSTITUTE FOR ECONOMIC RESEARCH, RAMAT AVIV 69 978 TEL AVIV ISRAEL.
Web page: http://econ.tau.ac.il/research/foerder.asp
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FISCAL POLICY ; INCOME ; RISK ; SOCIAL SECURITY;
Find related papers by JEL classification:
- H20 - Public Economics - - Taxation, Subsidies, and Revenue - - - General
- H55 - Public Economics - - National Government Expenditures and Related Policies - - - Social Security and Public Pensions
- H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
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- Hepp, Ralf & von Hagen, Jürgen, 2009.
"Fiscal federalism in Germany: Stabilization and redistribution before and after unification,"
ZEI Working Papers
B 01-2009, ZEI - Center for European Integration Studies, University of Bonn.
- Ralf Hepp & Jürgen von Hagen, 2012. "Fiscal Federalism in Germany: Stabilization and Redistribution Before and After Unification," Publius: The Journal of Federalism, Oxford University Press, vol. 42(2), pages 234-259, April.
- Ralf Hepp & JÃ¼rgen von Hagen, 2009. "Fiscal Federalism in Germany: Stabilization and Redistribution Before and After Unification," Fordham Economics Discussion Paper Series dp2009-06, Fordham University, Department of Economics.
- Hepp, Ralf & von Hagen, Jürgen, 2010. "Fiscal federalism in Germany: Stabilization and redistribution before and after unification," ZEI Working Papers B 02-2010, ZEI - Center for European Integration Studies, University of Bonn.
- Hepp, Ralf & von Hagen, Jürgen, 2009. "Fiscal Federalism in Germany: Stabilization and Redistribution Before and After Unification," CEPR Discussion Papers 7246, C.E.P.R. Discussion Papers.
- Bent E. Sorensen & Oved Yosha, 2001. "Is state fiscal policy asymmetric over the business cycle?," Economic Review, Federal Reserve Bank of Kansas City, issue Q III, pages 43-64.
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