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This article aims to examine empirically the relationship between budget periodicity and expenditure volatility in state governments. Using a large panel dataset for fifty states over the years 1960-2012, after controlling for institutional, economic, and political factors, we find general...
There is significant variation in the way state-administered pension systems are structured in the United States. Some states, for example, consolidate their pension activity into a few larger systems while others sponsor several smaller ones. In this paper we (1) identify arguments in favor of...
The recent recession provides us a good window to reveal fiscal problems and inadequate preparations of state and local governments. To address the fiscal crisis, and more importantly, to prepare for the potential economic downturns, this paper designs a framework of necessary tools to combat...
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