Many interesting dynamic load balancing schemes have been proposed for efficient use of the available frequency spectrum, and in particular, to increase the capacity of congested or hot cells in a cellular network. In this paper, we provide a simple theoretical framework, which leads to closed-form performance expressions for evaluating the performance of some of the most important dynamic load balancing strategies proposed in the literature. To the best of our knowledge, this is the first generalized theoretical framework that can be used to evaluate the performance of many different dynamic load balancing schemes with simple closed-form results. The accuracy of the developed expressions is checked and verified by comparing the results predicted by these analytical expressions with simulation results provided in the literature. Results show that there is an excellent match between the predictions of the theoretical framework developed in this paper and simulations.