The Impact of Business Cycles and Inflation on the Finances of State and Local Governments PDF Download
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Author: Roy W. Bahl
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 106
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Book Description
Author: Roy W. Bahl
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 106
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Book Description
Author: United States. Advisory Commission on Intergovernmental Relations
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 96
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Book Description
Author: Roy W. Bahl
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 116
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Book Description
Author: Roy W. Bahl
Publisher:
ISBN:
Category : Business cycles
Languages : en
Pages : 174
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Book Description
Author:
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 196
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Book Description
Author: United States. Congress. Senate. Committee on Government Operations. Subcommittee on Intergovernmental Relations
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 152
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Book Description
This volume contains hearings from the Senate Subcommittee on Intergovernmental Relations regarding the growing concern in the mid-1970's about the fiscal solvency of state and local governments at a time of both severe inflation and severe recession.
Author: United States. Congress. Joint Economic Committee
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 86
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Book Description
Author: United States. Congress. Senate. Committee on Government Operations. Subcommittee on Intergovernmental Relations
Publisher:
ISBN:
Category : Finance, Public
Languages : en
Pages : 140
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Author: Amanda Page-Hoongrajok
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ISBN:
Category :
Languages : en
Pages :
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This dissertation investigates state and local government budget behavior over the business cycle with the aim of improving the design and implementation of fiscal policy. It examines how the various components of state-local government budgets have behaved historically and seeks to understand how on-the-ground, practical, and political issues impact state and local government's ability to engage in countercyclical spending. The first chapter of this dissertation motivates the need to account for state and local government budgets in macroeconomic fiscal policy. It shows that the contemporary macroeconomic fiscal policy literature overlooks the role of state and local government budgets. I argue that it is critical to fill this gap because of the significant impact state and local government budgets can have on overall fiscal policy. Chapter 2 investigates the behavior of state and local government budgets over business cycles from 1954 to 2015. It classifies each component of state and local government budgets as pro-cyclical, countercyclical, or non-cyclical. This analysis helps us see clearly which components of state-local government budgets have historically supported countercyclical fiscal policy and which have hindered it. Chapter 3 examines the effectiveness of state-local government capital spending as a countercyclical tool. Capital spending has the most potential for countercyclical purposes. This chapter identifies institutional and on-the-ground barriers to using capital spending for countercyclical purposes. Chapter 4 analyzes the role of state and local government spending in the most recent economic recovery from 2010 to 2015. State and local government spending has historically contributed to federal government recovery efforts. However, in the 2010 recovery, state and local government spending became a drag. Analyzing the state-local government slowdown during the 2010 recovery can help us identify the key factors that turned state-local government spending from a supportive source to a barrier. Chapter 5 develops policy proposals for state and local government countercyclical spending taking into account all the lessons from the previous chapters. I argue that the most promising areas for policy change are: 1) expanding federal government support; 2) reforming rainy day funds; 3) utilizing the capital budget; 4) loosening financial constraints; and 5) addressing political constraints.
Author: Laura Judith Feiveson
Publisher:
ISBN:
Category :
Languages : en
Pages : 144
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Book Description
State and local governments in the United States make up more than half of total government consumption and investment and almost 90 percent of total government employment. Despite these facts, the debates surrounding fiscal policy during business cycles have usually been limited to the actions of the federal government. This is in large part due to two reasons. First, there are 50 state governments and more than 60,000 local governments, making coordinated responses very difficult. Second, because state and local governments are bound by balanced budget rules, their hands are tied, to some degree, in their ability to enact countercyclical spending policies. However, their dramatic expenditure and employment cuts in the recent recession have made it increasingly clear how much their actions affect the economy as a whole and have motivated new research surrounding their budget mechanisms and the broader impacts of their fiscal policy. This dissertation consists of three chapters, each seeking to illuminate a specific issue within this area of research. In the first chapter, I examine how the impact of federal intergovernmental grants on local economies may be mediated by public sector unions. In the second chapter, I explore the impact of revenue structure on city government revenue and expenditure fluctuations. Finally, the third chapter (co-authored with Gabriel Chodorow- Reich, Zachary Liscow, and William Woolston) estimates the fiscal multiplier associated with federal transfers to state governments in the recent recession.
