Author： Payne J.E.
Publisher： Springer Publishing Company
ISSN： 0048-5829
Source： Public Choice, Vol.95, Iss.3-4, 1998-06, pp. : 307-320
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Abstract
This paper examines the temporal relationship between revenues and expenditures for the forty-eight contiguous states over an annual period 1942 to 1992. Using an error-correction model, we find that the tax-spend hypothesis is supported for twenty-four states. The spend-tax hypothesis is valid for eight states while the fiscal synchronization hypothesis is supported for eleven states. The remaining five states failed the diagnostic tests for error-correction modeling.
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