Fiscal policy in New York and New Jersey: 1977-97
AbstractBetween 1977 and 1997, real government spending in New York and New Jersey rose more than 40 percent, led by sharply higher outlays for public welfare and education. Increased tax revenues offset the spending hikes, allowing the states to run large cash surpluses in most years, but both states saw their long-term debt grow markedly. As a result, net financial wealth rose only marginally in New Jersey and declined slightly in New York over the twenty-year period.
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Bibliographic InfoArticle provided by Federal Reserve Bank of New York in its journal Current Issues in Economics and Finance.
Volume (Year): 7 (2001)
Issue (Month): Jul ()
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- Robert P. Inman & Daniel L. Rubinfeld, 1997. "Rethinking Federalism," Journal of Economic Perspectives, American Economic Association, vol. 11(4), pages 43-64, Fall.
- Richard Deitz & Andrew F. Haughwout & Charles Steindel, 2010. "The recession's impact on the state budgets of New York and New Jersey," Current Issues in Economics and Finance, Federal Reserve Bank of New York, vol. 16(Jun/Jul).
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