Beetsma, Roel; Cima, Simone; Cimadomo, Jacopo - 2018
, because the transfers are based on changes in world trade in the various sectors. These changes can be considered as largely … manipulation. Our scheme works as follows: if a sector is hit by a bad shock at the world market level, then a country with an … addition, since transfers are based on temporary changes in world trade, the danger of permanent transfers from one set of …