Andersen, Asger Lau; Dreyer Lassen, David; Nielsen, … - 2010
The budget forms the legal basis of government spending. If a budget is not in place at the beginning of the fiscal … year, planning as well as current spending are jeopardized and government shutdown may result. This paper develops a … rather than positive; and when there is divided government. We test the hypotheses of the model using a unique data set of …