U.S. state fiscal policy and natural resources

An analytical framework predicts that, in response to an exogenous increase in resource based government revenue, a benevolent government will partially substitute away from taxing income, increase spending and save. Forty-two years of U.S. state-level data are consistent with this theory. Specifica...

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Bibliographic Details
Main Author: James, A
Format: Working paper
Published: University of Oxford 2013