DOI: 10.3886/icpsr25541.v1
title: Channels of Interstate Risk Sharing, United States, 1963-2000
title: Version 1

description: This study developed a framework for quantifying the amount of risk sharing among states in the United States, and constructed data that allowed researchers to decompose the cross-sectional variance in gross state product into levels of smoothing capital markets, federal government, and credit market smoothing.
The collection contains 67 Excel data files, that were grouped into 17 datasets based on the organizational ordering schematic provided by the principal investigator, including:

Dataset 1 - State Personal Income: n=1,938, 51 variables; 
Dataset 2 - Federal Taxes and Contributions: n=17,948, 424 variables; 
Dataset 3 - State Population: n=1,887, 51 variables; 
Dataset 4 - State and Local Personal Taxes: n=11,526, 306 variables; 
Dataset 5 - Interests on State and Local Funds: n=7,609, 205 variables; 
Dataset 6 - Transfers: n=5,814, 153 variables; 
Dataset 7 - Non Federal State Income: n=1,887, 51 variables; 
Dataset 8 - Federal Grants: n=1,938, 51 variables; 
Dataset 9 - Federal Transfers to Individuals: n=27,415, 766 variables; 
Dataset 10 - Federal Personal Taxes: n=1,938, 51 variables; 
Dataset 11 - State Government Expenditure: n=1,887, 51 variables; 
Dataset 12 - Disposable State Income: n=1,836, 51 variables; 
Dataset 13 - State Consumption: n=5,508, 153 variables; 
Dataset 14 - State and Local Transfers: n=1,836, 51 variables; 
Dataset 15 - Gross State Product: n=1,910, 52 variables; 
Dataset 16 - Retail Sales: n=3,774, 102 variables; 
Dataset 17 - Personal Consumption Expenditures: n=38, 2 variables;
description: A decomposition of the cross-sectional variance in gross state product, yields a relation where those cross-sectional variances represented a fraction of the shocks to gross state product smoothed via capital markets, by the federal fiscal system, and via credit markets. The main objective of the study was to estimate the components of this relationship.
description: An assessment of various channels of risk sharing among U.S. states was utilized in order to determine and  develop a framework for quantifying the amount of risk sharing among states in the United States, and construct data that allowed the researchers to decompose the cross-sectional variance in gross state product into several components which are referred to as "levels of smoothing." The channels of risk-sharing assessed by this study include:

Cross-ownership of productive assets, facilitated by a developed Capital Market [CAPITAL MARKET SMOOTHING]; 
The tax transfer system utilized for income smoothing [FEDERAL GOVERNMENT SMOOTHING]; 
Consumption smoothing by adjusting asset portfolios (i.e. lending and borrowing on national credit markets) [CREDIT MARKET SMOOTHING];
description: Dataset 1 - State Personal Income, contains the following file:

nch1.xls (State Personal Income 1963-2000); 
Dataset 2 - Federal Taxes and Contributions, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch2.xls (Federal Non Personal Taxes and Contributions 1963-1999); 
nch2.1.xls (State Burden of Federal Corporate Income Taxes (CIT) 1963-2000); 
nch2.1.1.xls (Property Income 1963-2000); 
nch2.1.2.xls (Total Corporate Income Taxes (CIT) 1963-2000); 
nch2.2.xls (State Burden of Federal Social Security Contributions 1963-2000); 
nch2.2.1.xls (Personal Social Security Contributions 1963-2000); 
nch2.2.2.xls (Federal Employment Contributions 1963-2000); 
nch2.2.3.xls (Federal Unemployment Insurance (UI) Contributions 1963-2000); 
nch2.2.4.xls (Other Federal Retirement Contributions 1963-2000); 
nch2.3.xls (State Burden of State Unemployment Contributions 1963-1999); 
nch2.4.xls (State Burden of Federal Excise Taxes 1963-2000); 
nch2.4.1.xls (Federal Alcohol Taxes 1963-2000); 
nch2.4.2.xls (Federal Estate - Gift Taxes 1963-2000); 
nch2.4.3.xls (Federal Customs Taxes 1963-2000); 
nch2.4.4.xls (Federal Miscellaneous Taxes 1963-2000); 
nch2.4.5.xls (Federal Highway Taxes 1963-2000); 
nch2.4.6.xls (Federal Airway Taxes 1963-2000); 
nch2.4.7.xls (Federal Crude Oil Profit Windfall Taxes 1963-2000); 
nch2.4.8.xls (Federal Telephone Taxes 1963-2000); 
nch2.4.9.xls (Federal Black Lung Taxes 1963-2000); 
nch2.4.10.xls (Federal Hazardous Substances Taxes 1963-2000); 
nch2.5.xls (State Burden of Federal Tobacco Taxes 1963-2000); 
nch2.5.1.xls (Federal Tobacco Taxes 1963-2000); 
Dataset 3 - State Population, contains the following file:

nch2.5.2.xls (State Population 1963-2000); 
Dataset 4 - State and Local Personal Taxes, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch3.xls (State and Local Personal Taxes 1963-1999); 
nch3.1.xls (State and Local Tax Revenues 1963-1999); 
nch3.2.2.1.xls (Personal Tax and Non-tax Payments to State Governments 1963-2000); 
nch3.2.2.2.xls (Personal Tax and Non-tax Payments to Local Governments 1963-2000); 
nch3.2.2.3.xls (State and Local Personal Property Taxes 1963-2000); 
nch32.xls (State and Local Personal Taxes 1963-2000); 
Dataset 5 - Interests on State and Local Funds, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch4.xls (Interests on State and Local Funds 1963-1999); 
nch4.1.xls (State and Local Insurance Trust Interest Earnings 1963-1999); 
nch4.2.xls (State and Local Miscellaneous Interests 1963-1999); 
nch4.3.xls (State Unemployment Interests (UI) 1963-1999); 
Dataset 6 - Transfers, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch5.xls (Transfers 1963-2000); 
nch5.1.1.xls (Government Payments to Individuals 1963-2000); 
nch5.1.3.xls (State and Local Government payments to Nonprofit Institutions 1963-2000); 
Dataset 7 - Non Federal State Income, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch6.xls (Non Federal State Income 1963-1999); 
Dataset 8 - Federal Grants, contains the following file:

nch7.xls (Federal Grants 1963-2000); 
Dataset 9 - Federal Transfers to Individuals, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch8.xls (Federal Transfers to Individuals 1963-1998); 
nch8.1.xls (Old Age, Survivors and Disability Insurance Payments 1963-2000); 
nch8.2.xls (Railroad Retirement and Disability Payments 1963-2000); 
nch8.5.xls (Workers Compensation Payments 1963-2000); 
nch8.6.xls (Medical Payments 1963-2000); 
nch8.7.xls (Social Security Income (SSI) Payments 1963-2000); 
nch8.8.xls (Food Stamps 1963-2000); 
nch8.9.xls (General, Refugees, Energy...Assistance 1963-2000); 
nch8.10.xls (Unemployment Insurance (UI) Payments 1963-2000); 
nch8.1..xls (Veterans Benefits Payments 1963-2000); 
nch8.12.xls (Federal Education and Training Assistance Payments 1963-2000); 
nch8.13.xls (Federal Payments to Nonprofit Institutions 1963-2000); 
nch8.27.xls (Medicaid Payments 1963-1998); 
nch8.CFFR.xls (Federal Transfers to Individuals 1983-2000); 
nch8.OLD.xls (Federal Transfers to Individuals 1963-1990); 
Dataset 10 - Federal Personal Taxes, contains the following file:

nch9.xls (Federal Personal Taxes 1963-2000); 
Dataset 11 - State Government Expenditure, contains the following file:

nch10.xls (State Government Expenditure 1963-1999); 
Dataset 12 - Disposable State Income, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch11.xls (Disposable State Income 1963-1998); 
Dataset 13 - State Consumption, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch12.xls (State Government Consumption 1963-1998); 
nch15.xls (State Consumption 1963-1998); 
nch16.xls (State Shares of Personal Consumption Expenditures 1963-1998); 
Dataset 14 - State and Local Transfers, contains the following files:

file1-FLOWCHART.xls (PI Quantification of Datasets); 
nch13.xls (State and Local Transfers 1963-1998); 
Dataset 15 - Gross State Product, contains the following file:

nch14.xls (Gross State Product 1963-1999); 
Dataset 16 - Retail Sales, contains the following files:

nch16.1.xls (Raw Data of TOTAL Retail Sales (Total and Non-Durable) 1963-1998, 2000); 
nch16.2.xls (Raw data of NON-DURABLES retail Sales (Total and Non-Durables) 1963-1998, 2000); 
Dataset 17 - Personal Consumption Expenditures, contains the following file:

nch16.3.xls (Personal Consumption Expenditures 1963-2000);
description: ICPSR data undergo a confidentiality review and are altered when necessary to limit the risk of 
				disclosure. ICPSR also routinely creates ready-to-go data files along with setups in the major 
				statistical software formats as well as standard codebooks to accompany the data. In addition to 
				these procedures, ICPSR performed the following processing steps for this data collection:
			   		Performed consistency checks..
description: Datasets: 
					
						DS0: Study-Level Files
						DS1: State Personal Income
						DS2: Federal Taxes & Contributions
						DS3: State Population
						DS4: State and Local Personal Taxes
						DS5: Interests on State and Local Funds
						DS6: Transfers
						DS7: Non Federal State Income
						DS8: Federal Grants
						DS9: Federal Transfers to Individuals
						DS10: Federal Personal Taxes
						DS11: State Government Expenditure
						DS12: Disposable State Income
						DS13: State Consumption
						DS14: State and Local Transfers
						DS15: Gross State Product
						DS16: Retail Sales
						DS17: Personal Consumption Expenditures
description: record abstracts
description: Federal, State, and Local Economic Smoothing Activity in the United States
				   		Smallest Geographic Unit: State