This paper examines the causal impact of citizen-initiated ballot measures, defined as initiatives and veto referendums, on state government revenues and expenditures. Across U.S. states, direct democratic institutions have been introduced at different points in time, creating a setting that...

With an outstandingly long data set of Swiss cantonal public finances, we study whether this Swiss subnational level runs sustainable fiscal policies. Going back to the year 1905, we test for stationarity of cantonal public debt, revenue and spending and for cointegration between cantonal...

To carry out the analysis required for monetary policy, the European Central Bank (ECB) and the European System of Central Banks (ESCB) need comprehensive and reliable government finance statistics. The focus of government finance statistics has traditionally been the government as a whole...