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- W2891535804 abstract "A fiscal programme that redistributes income from rich to poor individuals indirectly redistributes tax revenues from regions hit by a favourable shock to regions hit by an unfavourable one. Centralised fiscal redistribution has therefore been advocated as a way to insure individuals against region-specific shocks. In this paper, we argue that a centralised fiscal policy, while reducing the uncertainty on the tax base, may create additional uncertainty on the tax rate. Using a simple model we show that the higher uncertainty on the policy instrument might more than offset the lower uncertainty on the tax base." @default.
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- W2891535804 date "1994-01-01" @default.
- W2891535804 modified "2023-09-27" @default.
- W2891535804 title "Economic Risk and Political Risk in Fiscal Unions" @default.
- W2891535804 hasPublicationYear "1994" @default.
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