Channels of Interstate Risk Sharing: United States 1963-1990

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ID: 303061
1996
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Abstract
We develop a framework for quantifying the amount of risk sharing among states in the United States, and construct data that allow us to decompose the cross-sectional variance in gross state product into several components which we refer to as levels of smoothing. We find that 39 percent of shocks to gross state product are smoothed by capital markets, 13 percent are smoothed by the federal government, and 23 percent are smoothed by credit markets. The remaining 25 percent are not smoothed. We also decompose the federal government smoothing into subcategories: taxes, transfers, and grants to states.
Reference Key
openalex_W2013703215 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Pierfederico Asdrubali, Bent E. Sørensen, Oved Yosha
Journal the quarterly journal of economics
Year 1996
DOI
10.2307/2946708
URL
https://doi.org/10.2307/2946708
Keywords Keywords not found

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