Saving for a rainy day: Estimating the needed size of U.S. state budget stabilization funds
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- 作者：Bo Zhao bo.zhao@bos.frb.org" class="auth_mail" title="E-mail the corresponding author
- 关键词：E32 ; E63 ; H71 ; H72
- 刊名：Regional Science and Urban Economics
- 出版年：2016
- 出版时间：November 2016
- 年：2016
- 卷：61
- 期：Complete
- 页码：130-152
- 全文大小：1572 K
文摘
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We recommend against the linear time trend model commonly used in prior research.
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The size of the needed rainy day fund (RDF) varies across states.
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Existing RDF caps are often lower than the needed RDFs.
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At least 21 states never saved enough in their RDFs in the last 25 years.
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