| Autor: |
Pierson, Kawika, Thompson, Jon C., Thompson, Fred |
| Předmět: |
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| Zdroj: |
Public Finance Review; Mar2022, Vol. 50 Issue 2, p169-205, 37p |
| Abstrakt: |
One of the most important predictor variables in multistate studies of American municipal cash reserves is the state in which a municipality is located, and to date no research has explored why. In this paper, we show that two broad categories of variables can account for a large fraction of this puzzle. Average differences in financial variables and state-to-state institutional differences combine to absorb over 80% of the importance of state fixed effects, with financial variables mostly accounting for why cities in some states save less than the national average, and institutional variables doing a better job of accounting for why cities in some states save more than the national average. [ABSTRACT FROM AUTHOR] |
| Databáze: |
Complementary Index |
| Externí odkaz: |
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