Solé-Ollé, Albert; Viladecans Marsal, Elisabet - 2017
This paper examines how local governments adjust their spending, savings and taxes in response to a temporary revenue … being used primarily to increase spending (above all, current spending) and (to a lesser extent) to cut taxes. Second, we … (above all, capital), raise taxes, and allow deficits to grow. Finally, in places wit less informed voters and more contested …