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Minimizing the Harm of State Fiscal VolatilityJeremy Bearer-FriendUniversity of California at Berkeley David GamageUniversity of California, Berkeley - Boalt Hall School of Law September 6, 2010 State Tax Notes, Vol. 57, No. 10, p. 633, 2010 Abstract: This report’s primary concern is how U.S. state governments should respond to the fiscal volatility created by their balanced budget constraints. Applying the principles of risk allocation theory to this recurring problem, we conclude that states should primarily adjust the rates of broad-based taxes as their economies cycle, rather than fluctuating public spending.
Number of Pages in PDF File: 14 Accepted Paper SeriesDate posted: September 11, 2010 ; Last revised: March 7, 2011Suggested Citation |
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