We develop a method for identifying and quantifying the fiscal channels that help finance government spending shocks …

primary cause of state budget "gaps" has been the rise in the level of state unemployment. There is no evidence that gaps are … fiscal distress, ARRA covers at most $.23 of each additional dollar of a state's budget gap; there is a large per capita …The 2007-2010 recession has imposed significant fiscal hardships on state and local governments. The result has been …

In this paper, I review US federal budget rules and present some evidence on their possible effects. From an analysis … of how components of the federal budget behaved under the different budget regimes, it appears that the rules did have … fiscal discipline on the political process of budget determination. The federal government has operated under a series of …

shocks that permanently affect the budget …

likely to be one-dimensional. We thus study the general redistributive programs which are typical of the modern welfare state …

concerning public debt and deficits in India, the background and basic arithmetic of the Fiscal Responsibility and Budget … performance over the business cycle. We also briefly review fiscal responsibility legislation (and outcomes) at the state level … government. Finally, the recommendations of the 13th Finance Commission regarding a roadmap for fiscal consolidation are examined …