The Fiscal Stance of U.S. States
Jaeheung Bae and
Huixin Bi ()
Macro Bulletin, 2018, 1-3
We study the fiscal stance of U.S. states through the lens of state reserve funds. We find that the overall rainy day and unemployment insurance funds have largely recovered since the start of the Great Recession but at an uneven pace across states. More importantly, we find that states are better prepared to meet their own budgetary shortfalls in the event of a downturn than the shortfalls of households.
Keywords: States - United States; State reserve funds (search for similar items in EconPapers)
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