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Economic Commentary

State and Local Budgets during Business Contractions

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The steepness of the second-quarter decline in real economic activity and the prospects for a slow recovery from the current recession with little relief from inflation have raised concerns about the financial health of state and local governments.

08.25.1980EC 8/25/1980

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. This paper and its data are subject to revision; please visit clevelandfed.org for updates.

Suggested Citation

Humpage, Owen F. 1980. “State and Local Budgets during Business Contractions.” Federal Reserve Bank of Cleveland, Economic Commentary 8/25/1980.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International