Abstract

The objective of governments is to efficiently provide essential services and infrastructure to their jurisdictions at a competitive tax rate within the constraint of a balanced budget. In recent years, several states have found it difficult to maintain this standard. This article examines the nature of the problem in the overlapping jurisdictions of New York City and New York State. Specifically, it explains the nature of projected budget gaps that have emerged in New York, and describes how the two New Yorks' political leaders have managed their budgets in recent years. Furthermore, this article demonstrates that expenditures significantly exceed revenues, thus leading to inevitable budget gaps, and that policies designed to close the gap have harmful consequences.

View research

Citation

Horton, Raymond, Charles Brecher, and Dean Mead. "Budget Balancing in Difficult Times: The Case of the Two New Yorks." Public Budgeting and Finance 14, no. 2 (June 1994): 79-102.

Each author name for a Columbia Business School faculty member is linked to a faculty research page, which lists additional publications by that faculty member.

Each topic is linked to an index of publications on that topic.