Balanced Budget Multipliers for Small Open Regions within a Federal System: Evidence from the Scottish Variable Rate of Income Tax

Abstract

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The authors acknowledge the financial support of the ESRC under the Future of the UK and Scotland Pre and Post Referendum Initiative. We are also grateful to coeditor Mark Partridge and three anonymous referees for their extensive helpful comments and we thank Brian Ashcroft, Steve Bailey, Ayele Gelan, Gary Gillespie, Jim Stevens, and Karen Turner for help in the preparation of this paper and for comments on previous drafts. We also acknowledge participants in seminars given on related material at Lancaster, Stirling and Nottingham Universities, the Regional Science Association International (British and Irish Section) Conferences at St Andrews and Cardiff, and the Regional Studies Association Annual International Conference at Newcastle.