Balanced Budget Rules and Public Deficits: Evidence from the U.S. States

Preprint OPEN
Henning Bohn; Robert P. Inman;
  • Subject:
    • jel: jel:H61 | jel:H62

Most states (Vermont is the exception) have a constitutional or statutory limitation restricting their ability to run deficits in the state's general fund. Balanced budget limitations may be either prospective or beginning-of-the-year requirements or retrospective or en... View more
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