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Local governance and finances

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Some articles

Federal Reserve Bank of Boston, Working Paper n° 13-18 by Bo Zhao and David Coyne. "This paper develops a new measure of state and local fiscal sustainability called the "trend gap," which is based on socioeconomic and other fundamental factors and removes the short-term influence of the business cycle. The paper estimates the trend gap and finds that the nationwide per capita trend gap has been on a growing path over the past three decades, a different conclusion than found in previous studies. Social insurance and income maintenance programs have played a major role in the growth of the trend gap, while pension and other post-employment benefits (OPEB) plans have become increasingly important in driving it up. In addition, there are large and growing disparities in the trend gap across states."

30 May 2013. The website "Governing the States and Localities" proposes an article on "Do the States Have a Debt Problem? Most states and localities have borrowing limits, but they're nothing like the feds' approach."

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