deficits in the state's general fund. Balanced budget limitations may be either prospective or beginning …-of-the-year requirements or retrospective or end-of-the-year requirements. Using budget data from a panel of 47 U.S. states for the period 1970 …

This paper uses the sequence of government budget constraints to motivate estimates of interest payments on the U …

This paper summarizes state balanced budget requirements, and the available empirical evidence on the effect of these … typically restricted to part of the state budget, they frequently permit short term borrowing, and they lack formal enforcement … fiscal deficits emerge. This suggests that changing the federal budget process has the potential to affect federal fiscal …

We study budget formation in a model featuring separation of powers. In our model, the legislature designs a budget … serves broad interests, while a binding budget cap arises when the executive%u2019s constituency is more narrow than that of …