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We study the effect of size differences for an optimal risk sharing system of intergovernmental transfers in Germany …
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We provide empirical estimates of the risksharing and redistributive properties of fiscal equalization among the states of the German federation. Fiscal equalization serves as a mechanism to insure state budgets against asymmetric revenue shocks, but provides almost no insurance against regional...
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(Germany) has larger firms with flatter more decentral corporate hierarchies compared to the smaller country (Austria). Firms …
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