全球智库信息集成服务系统(G2TT): Balanced Budget Rules and Public Deficits: Evidence from the U.S. States

G2TT

来源类型	Working Paper
规范类型	报告
DOI	10.3386/w5533
来源ID	Working Paper 5533
	Balanced Budget Rules and Public Deficits: Evidence from the U.S. States
	Henning Bohn; Robert P. Inman
发表日期	1996-04-01
出版年	1996
语种	英语
摘要	Most states (Vermont is the exception) have a constitutional or statutory limitation restricting their ability to run deficits in the state's general fund. Balanced budget limitations may be either prospective or beginning-of-the-year requirements or retrospective or end-of-the-year requirements. Using budget data from a panel of 47 U.S. states for the period 1970-1991, the analysis finds that states with end-of-the-year (not prospective) balance requirements enforced as constitutional (not statutory) constraints by an independently elected (not politically appointed) state supreme court do have significant positive effects on a state's general fund surplus. The surplus is accumulated through cuts in spending, not through tax increases. It is saved in a state `rainy day' fund in anticipation of future general fund deficits. In contrast, prospective requirements, statutory end-of-the-year requirements, or constitutional end-of-the- year requirements enforced by a politically appointed court do not significantly constrain general fund deficit behavior. Finally, we find little evidence that the constraints `force' deficits into other fiscal accounts.
主题	Public Economics ; National Fiscal Issues
URL	https://www.nber.org/papers/w5533
来源智库	National Bureau of Economic Research (United States)
引用统计
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/562999
推荐引用方式 GB/T 7714	Henning Bohn,Robert P. Inman. Balanced Budget Rules and Public Deficits: Evidence from the U.S. States. 1996.

条目包含的文件
文件名称/大小	资源类型	版本类型	开放类型	使用许可
w5533.pdf（3091KB）	智库出版物		限制开放	CC BY-NC-SA	浏览