Search Results

No results found.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Wu, Lisa 

Working Paper
Output fluctuations and fiscal policy : U.S. state and local governments 1978-1994

What are the cyclical properties of U.S. state and local government fiscal policy? The budget surplus of local and, in particular, state governments is procyclical, smoothing disposable income and consumption of state residents. This happens over both short- and medium-term horizons. Procyclical surpluses are the result of strongly procyclical revenues, and weakly procyclical expenditures. The budgets of trust funds and utilities are procyclical. Federal grants are procyclical, exacerbating the cyclical amplitude of state level income movements; although they smooth the idiosyncratic ...
Research Working Paper , Paper 99-05

FILTER BY Series

FILTER BY Content Type

FILTER BY Author

FILTER BY Keywords

PREVIOUS / NEXT