Add to ORKGThe budget forms the legal basis of government spending. If a budget is not in place at the beginning of the fiscal year, planning as well as current spending are jeopardized and government shutdown may result. This paper develops a continuous-time war-of-attrition model of budgeting in a presidential style-democracy to explain the duration of budget negotiations. We build our model around budget baselines as reference points for loss averse negotiators. We derive three testable hypotheses: there are more late budgets, and they are more late, when fiscal circumstances change; when such changes are negative rather than positive; and when there is divided government. We test the hypotheses of the model using a unique data set of late budgets ...
Why do countries delay stabilizations of large and increasing budget deficits and inflation? And wha...
Across the nation, large budget gaps are forcing state governments to make tough policy choices. Whi...
This paper looks at the problem of state budget shortfalls during the recession and calculates the n...
We argue that the costs of bargaining failure are important determinants of legislative delay and gr...
Late budgets have been an epidemic in the US at all levels of government for some time. No state ha...
In nearly every area of law and governance, default policies exist when lawmakers cannot pass new le...
The federal budgeting process is wrought with conflict that makes it nearly impossible for the budge...
Over the last 40 years, the American budget system has become increasingly inefficient and detriment...
We have seen policy makers in the American states reevaluate and reestablish their taxing and spendi...
California is notorious for its budget gridlock. From 1950 to 2008, the budget was adopted late 44 %...
We develop a general theory of budgetary politics and examine its implications on a new dataset on U...
The annual appropriations process in the United States is broken. In only four of the past 41 years ...
The current fiscal crises that most states in the United States are facing are generally the result ...
In this article, a study of the budget process in Pennsylvania state government over the two fiscal ...
The shutdown of the U.S. government after failure to pass a budget is exceptional by global standard...
Why do countries delay stabilizations of large and increasing budget deficits and inflation? And wha...
Across the nation, large budget gaps are forcing state governments to make tough policy choices. Whi...
This paper looks at the problem of state budget shortfalls during the recession and calculates the n...
We argue that the costs of bargaining failure are important determinants of legislative delay and gr...
Late budgets have been an epidemic in the US at all levels of government for some time. No state ha...
In nearly every area of law and governance, default policies exist when lawmakers cannot pass new le...
The federal budgeting process is wrought with conflict that makes it nearly impossible for the budge...
Over the last 40 years, the American budget system has become increasingly inefficient and detriment...
We have seen policy makers in the American states reevaluate and reestablish their taxing and spendi...
California is notorious for its budget gridlock. From 1950 to 2008, the budget was adopted late 44 %...
We develop a general theory of budgetary politics and examine its implications on a new dataset on U...
The annual appropriations process in the United States is broken. In only four of the past 41 years ...
The current fiscal crises that most states in the United States are facing are generally the result ...
In this article, a study of the budget process in Pennsylvania state government over the two fiscal ...
The shutdown of the U.S. government after failure to pass a budget is exceptional by global standard...
Why do countries delay stabilizations of large and increasing budget deficits and inflation? And wha...
Across the nation, large budget gaps are forcing state governments to make tough policy choices. Whi...
This paper looks at the problem of state budget shortfalls during the recession and calculates the n...