NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

On Fiscal Illusion and Ricardian Equivalence in Local Public Finance

H. Spencer Banzhaf, Wallace E. Oates

NBER Working Paper No. 18040
Issued in May 2012

---- Acknowledgements -----

We are grateful for some very helpful comments to Rachana Bhatt, Jan Brueckner, Eric Brunner, Roberto Dell'Allano, Dennis Epple, Robert Inman, Fabio Padovano, and Robert Schwab. We especially thank the Lincoln Institute of Land Policy for generous financial support. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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