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Growth and Variability in State Tax Revenue : An Anatomy of State Fiscal Crises (Contributions in Economics and Economic History)
Growth and Variability in State Tax Revenue An Anatomy of State Fiscal Crises - Contributions in Economics and Economic History Author:Randall G. Holcombe, Russell S. Sobel During recessions state government fiscal crises are widespread, as states find their revenues inadequate to meet their expenditure demands. This volume shows that state fiscal crises have only one significant cause: revenue downturns associated with recessions. Other analysts have argued that fiscal crises are the result of an interaction of ma... more »ny complex causes, including inadequate tax bases, increasing expenditure demands, and limits placed on state governments by voters. This analysis examines these other factors and shows that while they present significant challenges to state policymakers, they are not the cause of fiscal crises.« less