1,208 research outputs found

    State government finances: World War II to the current crisis

    Get PDF
    This article will explore the extent, causes, and proposed solutions of the current fiscal crisis from a historical perspective of state finance. Although the current fiscal crisis is severe, it becomes more difficult to assess unless one has a more complete understanding of the historical changes that have occurred in state revenue streams. This article will address the role of major revenue sources in the context of the current slowdown and also investigate how reliance on various revenue sources has changed over the past 50 years. The role of non-traditional revenue sources, such as state lotteries and casino gambling, will also be discussed. The article further addresses various fiscal institutions, such as tax and expenditure limitation laws, rainy day funds, and balanced budget rules, and explores the role each play in state budgeting and finance.Taxation ; Budget ; Finance, Public

    Red ink in the rearview mirror: local fiscal conditions and the issuance of traffic tickets

    Get PDF
    Municipalities have revenue motives for enforcing traffic laws in addition to public safety motives because many traffic offenses are punished via fines and the issuing municipality often retains the revenue. Anecdotal evidence supports this revenue motive. We empirically test this revenue motive using panel data on North Carolina counties. We find that significantly more tickets are issued in the year following a decline in revenue, but the issuance of traffic tickets does not decline in years following revenue increases. Our results suggest that tickets are used as a revenue generation tool rather than solely a means to increase public safety. ; Formerly titled: Are traffic tickets countercyclical?Local government

    State government finances: World War II to the current crises

    Get PDF
    This article examines the current state budget crises from a historical perspective. The role of major expenditures and revenue sources in the context of the current slowdown and how reliance on various revenue sources has changed since World War II are addressed. Tax revenue variability over the business cycle and the use of nontraditional revenue sources, such as state lotteries and casino gaming, are also discussed. The article further comments on the role of fiscal institutions, such as tax and expenditure limitation laws, rainy day funds, and balanced budget rules, in state budgeting and finance.Taxation ; Budget ; Finance, Public

    A spatial analysis of state banking regulation

    Get PDF
    We use a spatial model to investigate a state’s choice of branch banking and interstate banking regimes as a function of the regime choices made by other states and other variables suggested in the literature. We extend the basic spatial econometric model by allowing spatial dependence to vary by geographic region. Our findings reveal that spatial effects have a large, statistically significant impact on state regulatory regime decisions. The importance of spatial correlation in the setting of state banking policies suggests the need to consider spatial effects in empirical models of state policies in general.Banks and banking ; Bank supervision

    Regional disparities in the spatial correlation of state income growth

    Get PDF
    This paper presents new evidence of spatial correlation in U.S. state income growth. We extend the basic spatial econometric model used in the growth literature by allowing spatial correlation in state income growth to vary across geographic regions. We find positive spatial correlation in income growth rates across neighboring states, but that the strength of this spatial correlation varies considerably by region. Spatial correlation in income growth is highest for states located in the Northeast and the South. Our findings have policy implications both at the state and national level, and also suggest that growth models may benefit from incorporating more complex forms of spatial correlation.Regional economics ; Income distribution

    Improved Parameters and New Lensed Features for Q0957+561 from WFPC2 Imaging

    Get PDF
    New HST WFPC2 observations of the lensed double QSO 0957+561 will allow improved constraints on the lens mass distribution and hence will improve the derived value of H0_0. We first present improved optical positions and photometry for the known components of this lens. The optical separation between the A and B quasar images agrees with VLBI data at the 10 mas level, and the optical center of the primary lensing galaxy G1 coincides with the VLBI source G' to within 10 mas. The best previous model for this lens (Grogin and Narayan 1996) is excluded by these data and must be reevaluated. Several new resolved features are found within 10\arcsec of G1, including an apparent fold arc with two bright knots. Several other small galaxies are detected, including two which may be multiple images of each other. We present positions and crude photometry of these objects.Comment: 7 pages including 2 postscript figures, LaTeX, emulateapj style. Also available at http://www.astro.lsa.umich.edu:80/users/philf/www/papers/list.htm
    corecore