Fiscal policy in New York and New Jersey: 1977-97

Between 1977 and 1997, real government spending in New York and New Jersey rose more than 40 percent, led by sharply higher outlays for public welfare and education. Increased tax revenues offset the spending hikes, allowing the states to run large cash surpluses in most years, but both states saw their long-term debt grow markedly. As a result, net financial wealth rose only marginally in New Jersey and declined slightly in New York over the twenty-year period.

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Year of publication:	2001
Authors:	Haughwout, Andrew F.
Published in:	Current Issues in Economics and Finance. - Federal Reserve Bank of New York. - Vol. 7.2001, Jul, 7
Publisher:	Federal Reserve Bank of New York
Subject:	Fiscal policy \| Taxation - New Jersey \| Taxation - New York \| Public welfare

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Extent:	text/html application/pdf
Type of publication:	Article
Language:	English
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005387214