Balli, Faruk; Basher, Syed; Louis, Rosmy Jean - In: Empirical Economics 43 (2012) 2, pp. 763-787
This article incorporates recent developments in the literature to quantify the amount of interprovincial risk-sharing in Canada. We find that 29% of shocks to gross provincial product are smoothed by capital markets, 27% are smoothed by the federal tax-transfer systems, and about 24% are...