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A Pilot Study on Regional Financial Redistribution of the Italian Government Securities Over 2007-2017

Author

Listed:
  • Veronica Polin

    (University of Verona)

  • Francesca Tartamella

    (Istat)

Abstract

It is well known how high and persistent is the Italian public debt and its cost borne by citizens. Less known is the territorial dimension of the redistributive effects of this burden. In this article we try to shine a light on the regional financial redistribution of government securities in Italy over a long period of time. According to our findings, the financing burden, estimated using alternative criteria, is borne by all regions and, for most regions, the enjoyed benefits, as securities holders, are not sufficient to offset the amount paid through taxes. Furthermore, the monetary losses are not homogeneously distributed at regional level: Southern regions and some of the centre show a greater financial disadvantage. Finally, our results show that household sector is almost always loser, and this finding does not depend on the type of possession considered (directly or directly plus indirectly) and on the financing criteria adopted.

Suggested Citation

  • Veronica Polin & Francesca Tartamella, 2020. "A Pilot Study on Regional Financial Redistribution of the Italian Government Securities Over 2007-2017," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 128(2), pages 219-254.
    • Handle: RePEc:vep:journl:y:2020:v:128:i:2:p:219-254
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    More about this item

    Keywords

    Regional fiscal flows; Regional redistribution; Public debt;
    All these keywords.

    JEL classification:

    • D3 - Microeconomics - - Distribution
    • H23 - Public Economics - - Taxation, Subsidies, and Revenue - - - Externalities; Redistributive Effects; Environmental Taxes and Subsidies
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations

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