This paper studies the long-run fiscal consequences of balanced budget rules (BBR) that are enshrined in a country's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that the introduction of a constitutional-BBR reduces...

This paper studies the long-run fiscal consequences of balanced budget rules (BBR) that are enshrined in a country's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that the introduction of a constitutional-BBR reduces...

For the fifth and final year, we rank states according to their financial condition. On the basis of FY 2016 financial reports of the 50 states, this study ranks the states' fiscal solvency using 13 indicators that assess the extent to which the states can meet their obligations. State finances...

Based on the fiscal year 2014 comprehensive annual financial reports of the 50 states and Puerto Rico, this study ranks states fiscal solvency using 14 metrics that assess the extent to which the states can meet short-term bills and longer-term obligations. State finances are analyzed according...

Based on the FY 2015 comprehensive annual financial reports of the 50 states, this study ranks states fiscal solvency using 13 metrics that assess the extent to which the states can pay short-term bills and meet longer-term obligations. State finances are analyzed according to five categories of...

This paper studies the long-run fiscal consequences of balanced budget rules (BBR) that are enshrined in a country's constitution. Using historical data dating back to the 19th century and applying a difference-in-difference approach we find that the introduction of a constitutional-BBR reduces...