Although the neutral is often the same size as the ungrounded conductors for a service it is unusual that it would be required to be. It certainly doesn't need to be in a residence where much of the power supplied can be 240V circuits or even in commercial application where much of the power is used on 3 phased compressors etc.
Unwritten rule of thumb is, for commercial, the neutral is either the same size and sometimes larger than the ungrounded conductors. This would be the case where you have many non linear loads which cause harmonic currents.
For resi. you often see one size smaller( again unwritten rule) but can be considerably smaller if you do a calculation.