The Effect of Tax and Expenditure Limitations on Revenue Volatility: Evidence from Colorado

IF 0.9 Q4 PUBLIC ADMINISTRATION

Public Budgeting and Finance Pub Date : 2012-01-01 DOI:10.1111/j.1540-5850.2012.01016.x

Travis St. Clair

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引用次数: 11

Abstract

Much of the research on tax and expenditure limitations (TELs) focuses on the impact that limits have on the size of the public sector or the distribution of expenditures at the state and local levels. While these results shed light on the extent to which TELs succeed in reducing government spending, they do not have much to say about the impact of TELs on government budgeting or financial planning, despite the fact that voters support TELs in the hope of reducing government inefficiency (Courant, Gramlich, and Rubinfeld 1980; Ladd and Wilson 1982). This paper examines the effect of TELs on the stability of government revenues; sound tax policy entails controlling the volatility of revenues in order to plan more effectively for the future. Using panel data from Colorado's Division of Local Government as well as the Census Bureau's Annual Survey of State and Local Government Finances, this paper examines the impact of Colorado's 1992 Taxpayer's Bill of Rights (TABOR) on local government finances. Results from difference‐in‐difference estimation suggest that TELs increase revenue and expenditure volatility.

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税收和支出限制对收入波动的影响:来自科罗拉多州的证据

关于税收和支出限制的许多研究集中于这些限制对公共部门规模或州和地方各级支出分配的影响。虽然这些结果揭示了电信公司在减少政府支出方面的成功程度，但它们并没有太多地说明电信公司对政府预算或财务规划的影响，尽管选民支持电信公司是希望减少政府效率低下(Courant, Gramlich, and Rubinfeld 1980;Ladd and Wilson 1982)。本文考察了移动电话对政府收入稳定性的影响;健全的税收政策需要控制收入的波动，以便更有效地规划未来。使用来自科罗拉多州地方政府部门的面板数据以及人口普查局的州和地方政府财政年度调查，本文研究了科罗拉多州1992年纳税人权利法案(TABOR)对地方政府财政的影响。差中差估计的结果表明，移动电话增加了收入和支出的波动性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Public Budgeting and Finance PUBLIC ADMINISTRATION-

CiteScore

2.10

自引率

14.30%

发文量

期刊介绍： Public Budgeting & Finance serves as a forum for the communication of research and experiences on all facets of government finance and provides meaningful exchange between research from universities, private and nonprofit research institutes, practitioners in public financial markets, government agencies, and the experience of those who practice government budgeting and finance. Researchers, practitioners, and teachers of applied government finance turn to Public Budgeting & Finance to find understandable, reliable, and thoughtful analysis of issues important in the field. The content of the journal spans the spectrum of budget process and policy and financial management, is never limited to one level of government or even to one country, and always even-handedly crosses disciplines and approaches in applied government finance.