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Fiscal federalism and optimum currency areas : evidence for Europe from the United States

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Essays on risk sharing in economic unions

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Fiscal Federalism and Optimum Currency Areas : Evidence for Europe From the United States

Sala-i-Martin, Xavier - 1991

The main goal of this paper is to estimate to what extent the federal government of the United States insures member states against regional income shocks. We find that a one dollar reduction in a region's per capita personal income triggers a decrease in federal taxes of about 34 cents and an...

Persistent link: https://www.econbiz.de/10012475134