The behavior of U.S. States’ debts and deficits
Do governments satisfy an intertemporal budget constraint? This paper uses a panel of U.S. state data from 1978-1998 to empirically investigate whether primary surpluses respond to rising debt/GDP ratios. Instead of relying solely on the time-series characteristics of various data series, the paper...
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| Format: | Article |
| Language: | English |
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Institute of Public Finance
2019-09-01
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| Series: | Public Sector Economics |
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| Online Access: |
http://www.pse-journal.hr/upload/files/pse/2019/3/3.pdf
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