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U.S. State and Local Government Finances Over the Current Cycle

The recent slowdown in the U.S. economy has led to state and local government tax increases and expenditure cuts that have lowered aggregate demand, in contrast to earlier downturns when the sector provided significant automatic stabilizers. Several explanations for this change are examined, includi...

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Bibliographic Details
Main Author: Bayoumi, Tamim
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 1992
Series:IMF Working Papers
Subjects:
Fiscal Stance
Finance, Public
Revenue Administration
Public-private Enterprises
Total Expenditures
State And Local Budget And Expenditures
Public Finance & Taxation
Public Enterprises
Public Sector
Fiscal Policy
Economic Sectors
National Government Expenditures And Related Policies: General
Expenditure
Taxation, Subsidies, And Revenue: General
Expenditures, Public
Civil Service & Public Sector
Macroeconomics
Public Finance
Revenue
United States
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
Description
Summary:The recent slowdown in the U.S. economy has led to state and local government tax increases and expenditure cuts that have lowered aggregate demand, in contrast to earlier downturns when the sector provided significant automatic stabilizers. Several explanations for this change are examined, including the role of federal grants, mandates, tax revolts, and compensation. The first three factors are found to be relatively unimportant. There does, however, appear to have been a large change in relative compensation over the 1980s, which can account for much of the deterioration in finances
Physical Description:35 pages
ISBN:9781451853520

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