| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w16086
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| 来源ID | Working Paper 16086
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| States in Fiscal Distress |
| Robert P. Inman
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| 发表日期 | 2010-06-17
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| 出版年 | 2010
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| 语种 | 英语
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| 摘要 | The 2007-2010 recession has imposed significant fiscal hardships on state and local governments. The result has been state deficits and the need to increase state taxes, cut spending, and withdraw funds from state rainy day accounts. The primary cause of state budget "gaps" has been the rise in the level of state unemployment. There is no evidence that gaps are related to state political institutions, the state's prior receipt of federal funding, or possibly favored access to key congressional budget committees. The federal government has responded to these gaps with the passage of the American Recovery and Reinvestment Act (ARRA) of 2009 intended to aid states in fiscal distress and to provide an economic stimulus. As insurance for fiscal distress, ARRA covers at most $.23 of each additional dollar of a state's budget gap; there is a large per capita payment that goes to all states, independent of the level of state deficits. As targeted assistance for stimulating local economies, ARRA funding is uncorrelated with state unemployment rates. ARRA funding appears to be decided by congressional politics, given the desire to pass a major spending and tax relief package as quickly as possible. States are important "agents" for federal macro-policy, but agents with their own needs and objectives. |
| 主题 | Subnational Fiscal Issues
; Public Economics
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| URL | https://www.nber.org/papers/w16086
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573761
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推荐引用方式
GB/T 7714 |
Robert P. Inman. States in Fiscal Distress. 2010.
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文件名：
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w16086.pdf
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格式：
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Adobe PDF
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