Replication data for: Fiscal Policy Multipliers on Subnational Government Spending

Jeffrey Clemens & Stephen Miran
Balanced budget requirements lead to substantial pro-cyclicality in state government spending, with the stringency of a state's rules driving the pace at which it must adjust to shocks. We show that fiscal institutions can generate natural experiments in deficit-financed spending that are informative regarding fiscal stabilization policy. Alternative sources of variation in subnational fiscal policy often implicitly involve \"windfall\" financing, which precludes any effect of future debt or taxation on current consumption and investment. Consistent...
This data repository is not currently reporting usage information. For information on how your repository can submit usage information, please see our documentation.