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Author:
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ISBN:
Category : Finance, Public
Languages : en
Pages : 5
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Book Description
Author:
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 5
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Book Description
Author: New York (State). Office of the State Comptroller. Division of Local Government & School Accountability
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 12
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Book Description
Author:
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 11
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Book Description
Author:
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 35
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Author: New York (State). Office of the State Comptroller. Division of Local Government & School Accountability
Publisher:
ISBN:
Category : Government spending policy
Languages : en
Pages : 9
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Book Description
Author: Mr.Emanuele Baldacci
Publisher: International Monetary Fund
ISBN: 1455253332
Category : Business & Economics
Languages : en
Pages : 22
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Book Description
This paper proposes a set of fiscal indicators to assess rollover risks using the conceptual framework developed by Cottarelli (2011). These indicators provide early warning signals about the manifestation of these risks, giving policymakers the opportunity to adjust policies before extreme fiscal stress events. Two aggregate indices are calculated: an index of fiscal vulnerability and an index of fiscal stress. Results show that both indices are elevated for advanced economies, reflecting unfavorable medium-term debt dynamics and aging-related spending pressures. In emerging economies, solvency risks are lower, but the composition of public debt remains a source of risk and the fiscal position is weaker than before the crisis.
Author: Sarah Arnett
Publisher:
ISBN:
Category : Government spending policy
Languages : en
Pages :
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Book Description
Fiscal stress is an important and recurring problem that states face. Research to date on state fiscal stress involves, predominantly, cross-sectional and case study analyses and does not address the effectiveness of state responses. Many of these studies use different definitions and measures of fiscal stress compounding the difficulty of comparing fiscal stress findings. The present research effort adds to the fiscal stress literature by (1) clarifying the meaning of fiscal stress in the state context, (2) developing a measure of fiscal stress that operationalizes this meaning and is comparable across units, and 3) using this measure analyzes patterns in and the effectiveness of state responses. Fiscal stress is measured using four indexes: budget, cash, long-run, service-level. Eleven financial indicators, calculated using data from state Comprehensive Annual Financial Reports (CAFRs), are used to create these indexes for all fifty states for the years 2002-2009. Descriptive analysis compares state fiscal stress levels (grouped into low, moderate, and high fiscal stress by cluster analysis) to state economic growth rates, state responses, and institutional factors yielding several findings. First, states do not use an incremental or punctuated equilibrium strategy in responding to fiscal stress; nor do their responses follow the pattern predicted by Cutback Management theory. Second, institutional factors affect both the levels of fiscal stress and state responses to fiscal stress. Regression analysis supports and extends these findings. First, short-term responses of expenditure cuts, tax increases, and rainy day fund use do not affect state fiscal stress levels. Second, these responses have long-term effects on fiscal stress levels. A major implication of this research is that there is very little states can do in the short-term to reduce fiscal stress. However, by balancing expenditures and revenues states can set themselves up to weather the next economic downturn with lower levels of fiscal stress.
Author: Lisa K. Parshall
Publisher: State University of New York Press
ISBN: 1438492472
Category : Political Science
Languages : en
Pages : 236
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Book Description
In Local Hands examines the contemporary (post-2010) village government dissolution movement and renewed state-level effort to encourage local government restructuring against the backdrop of evolving statutory authority, growing fiscal pressures, and state incentives. Drawing on multiple disciplines, Lisa K. Parshall explores the contemporary village dissolution movement in New York State, the impetus behind these reforms, and the impact of the state-level policies and incentives that are driving a growing number of local communities to consider local government reorganization through the elimination of villages as governing entities. Parshall explores the social, political, and narrative contexts in which these community-level debates occur, providing us with a study of local democracy in action and of the power of local control over the creation and dissolution of local governing entities. With its dual within and cross-case study focus on New York State villages, In Local Hands is both timeless and timely, providing valuable contributions to the study of municipal development and reorganization.
Author: Iva Petrova
Publisher: International Monetary Fund
ISBN: 1455254312
Category : Business & Economics
Languages : en
Pages : 43
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Book Description
This paper develops a new index which provides early warning signals of fiscal sustainability problems for advanced and emerging economies. Unlike previous studies, the index assesses the determinants of fiscal stress periods, covering public debt default as well as near-default events. The fiscal stress index depends on a parsimonious set of fiscal indicators, aggregated using the approach proposed by Kaminsky, Lizondo and Reinhart (1998). The index is used to assess the build up of fiscal stress over time since the mid-1990s in advanced and emering economies. Fiscal stress has increased recently to record-high levels in advanced countries, reflecting raising solvency risks and financing needs. In emerging economies, risks are lower than in mature economies owing to sounder fiscal fundamentals, but fiscal stress remains higher than before the crisis.
Author: Beth Walter Honadle
Publisher: Elsevier
ISBN: 0080472788
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Fiscal Health for Local Governments offers a how-to approach to identifying and solving financial problems. Its principal selling point lies in its assumptions: instead of using the vocabulary and research agendas of economist, finance scholars, and political scientists, it will appeal to readers who lack sophisticated knowledge in these areas and nevertheless need practical advice. The book stems from the Fiscal Health Education Program, an applied economics program at the University of Minnesota. It uses three measures of fiscal health — financial condition, trend analysis, and financial trend monitoring system — as the basis for advocating particular fiscal strategies. The book examines the tools that can be used to assess the condition of a local government's fiscal health and some of the policy causes or remedies for certain situations, as well as some of the strategies governments can pursue to maintain and improve health. It will serve as a primer for readers interested in understanding financial processes and alternatives, and as a practical guide for those who need access to fiscal measurement tools. How-to approach will appeal to readers who lack sophisticated knowledge Contains discussion questions and anonymous case studies of actual cities and municipalities Presents practical methods for identifying and solving common fiscal problems
