Growth and Variability in State Tax Revenue

RANDALL G. HOLCOMBE is DeVoe Moore Professor of Economics at Florida State University. He is also chairman of the Research Advisory Council at the James Madison Institute for Public Policy Studies, a Tallahassee-based think-tank that specializes in issues facing state governments. He is author of seven books, including Public Policy and Quality of Life (Greenwood, 1995). His primary research areas are public finance and the economic analysis of public policy issues.RUSSELL S. SOBEL is Assistant Professor of Economics at West Virginia University and a faculty research associate with the Bureau of Business and Economic Research at West Virginia University. He is author of several articles.

• Revenues and Expenditures: The Components of Crisis State Government Spending State Government Taxes Budgeting for Stability: Some Principles Measuring Cyclical Variability The Cyclical Variability of State Government Revenues The Variability of State Income and Sales Taxes Is There a Trade-Off between Variability and Growth in State Government Tax Bases? The Role of Rainy Day Funds in Easing State Fiscal Crises Conclusion Bibliography Index