Managing Fiscal Stress
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Managing Fiscal Stress
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Author : Charles H. Levine
language : en
Publisher: Chatham, N.J. : Chatham House Publishers
Release Date : 1980
Managing Fiscal Stress written by Charles H. Levine and has been published by Chatham, N.J. : Chatham House Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980 with Political Science categories.
"Fiscal stress is a problem of growing concern to all levels of government. This volume provides in-depth analyses of the causes and consequences of financial stress, and offers solutions for managers charged with the responsibility for maintaining fiscal solvency and adequate and equitable services"--Back cover.
Fiscal Stress And Public Policy
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Author : Charles H. Levine
language : en
Publisher: SAGE Publications, Incorporated
Release Date : 1980-12
Fiscal Stress And Public Policy written by Charles H. Levine and has been published by SAGE Publications, Incorporated this book supported file pdf, txt, epub, kindle and other format this book has been release on 1980-12 with Business & Economics categories.
Provides some of the most current thinking on various aspects of fiscal stress in the public sector and its implications for public management. It lays out the background of financial stress at the federal, state, and local levels, suggesting how various public bodies have responded or might respond to fiscal stress. 'Fiscal Stress and Public Policy is an excellent collection of articles. They are provocative, readable, and of enduring value of academicians, scholars and students of public policy. Indeed, individual contributions are overshadowed only by the overall quality of the volume.' -- Quality and Quantity, Vol 17, 1983 'This is an excellent collection of essays. They coalesce around an extremely imp
Analyzing And Managing Fiscal Risks Best Practices
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Author : International Monetary Fund. Fiscal Affairs Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-04-05
Analyzing And Managing Fiscal Risks Best Practices written by International Monetary Fund. Fiscal Affairs Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-05 with Business & Economics categories.
Comprehensive analysis and management of fiscal risks can help ensure sound fiscal public finances and macroeconomic stability. This has been underscored by the global financial crisis and the more recent collapse in commodity prices, which starkly illustrate the vulnerability of public finances to risk. Indeed, over the past quarter century, governments experienced on average an adverse fiscal shock of 6 percent of GDP once every 12 years, with some of the largest stemming from financial crises. Countries need a more complete understanding of these potential threats to their fiscal position. Existing fiscal risk disclosure and analysis practices tend to be incomplete, fragmented, and qualitative in nature. A more comprehensive and integrated assessment of the potential shocks to government finances, in the form of a fiscal stress test, can help policymakers simulate the effects of shocks to their central forecasts and their implications for government solvency, liquidity, and financing needs. Comprehensive, reliable, and timely fiscal data covering all public entities, stocks, and flows are a necessary foundation for such analysis. Countries should also enhance their capacity to mitigate and manage fiscal risks. Fiscal risk management practices are often blunt, ad hoc, and too focused on imposing limits on the creation of exposures. Countries need to expand their toolkits for fiscal risk management and adopt the use of instruments to transfer, share, or provision for risks. In doing so, countries need to weigh the possible benefits from reducing their exposure to shocks against the financial and other costs of the policies that may be needed. Finally, countries should make greater use of probabilistic forecasting methods when setting long-run objectives and medium-term targets for fiscal policy. The paper illustrates how simple probabilistic tools can be used to map the uncertainty around medium-term trajectories for public debt. In combination with fiscal stress tests, these tools can provide valuable information regarding the probabilities that a country will stay within the debt ceilings embedded in their fiscal rules. The Fund is playing an important role in supporting improvements in fiscal risk analysis and management among its members. This includes technical assistance in constructing public sector balance sheets; developing institutions and capacity to identify specific fiscal risks and to quantify their potential impact; undertaking fiscal stress tests; and integrating risks into the design of medium-term fiscal targets.
Assessing Fiscal Stress
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Author : Iva Petrova
language : en
Publisher: International Monetary Fund
Release Date : 2011-05-01
Assessing Fiscal Stress written by Iva Petrova and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-05-01 with Business & Economics categories.
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.
The Politics Of Retrenchment
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Author : Charles H. Levine
language : en
Publisher:
Release Date :
The Politics Of Retrenchment written by Charles H. Levine and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with categories.
Managing Budgets During Fiscal Stress
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Author : Jeremy M. Goldberg
language : en
Publisher:
Release Date : 2014
Managing Budgets During Fiscal Stress written by Jeremy M. Goldberg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014 with Budget categories.
This report examines what happened to local California government revenues during the recent period of economic problems, which services have been adjusted, how employee benefits have been treated, and what innovations have been introduced. The report is based on both a web-based survey of 245 California city government officials and face-to-face interviews with chief financial officers in most of the state's major cities (Sacramento, San Francisco, San Jose, Oakland, Riverside, Pasadena and Los Angeles). The report concludes with recommendations for local governments across the nation. These include: Identify and address structural deficits in a finely grained manner, leaving no major budget category unexamined; Foster citizen engagement to encourage widespread dissemination of fiscal information in order to enhance the legitimacy of public policy choices; Improve the state/local relationship to reduce episodic, convulsive impacts on local public finance.--
Managing Local Governments To Avoid Periods Of Fiscal Stress
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Author : Joseph J. Sebek
language : en
Publisher:
Release Date : 1981
Managing Local Governments To Avoid Periods Of Fiscal Stress written by Joseph J. Sebek and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Local finance categories.
Managing Fiscal Strain In Major American Cities
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Author : William J. Pammer
language : en
Publisher: Praeger
Release Date : 1990-02-12
Managing Fiscal Strain In Major American Cities written by William J. Pammer and has been published by Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-02-12 with Political Science categories.
This study offers frank evaluations and a pro-and-con analysis of various retrenchment strategies. It focuses specifically on how environmental conditions and administrative and political aspects of cities affect the decisions to implement specific retrenchment strategies during periods of revenue decline or stagnation. The book takes the reader beyond the rationalistic and incremental approach of urban decision-making and demonstrates that decisions requiring fiscal retrenchment can be confusing and ill-planned. It also reveals how any action taken by the city will reflect the chief executive officer's perception of what the situation demands. The first part of the book, The Evolution of Financial Decline, discusses the structural antecedents that have contributed to the decline of financial sources. Here, the major literature that investigates the causes and consequences of urban fiscal strain is reviewed. In Part Two, Reacting Toward Fiscal Stress, the chapters deal specifically with different management techniques available to municipalities to cope with resource decline. The strategic advantages and political ramifications of these approaches are discussed in detail. These chapters also provide an inventory of response techniques for urban managers. Part Three, Retrenchment and the Urban Policy Process, builds upon the garbage can model developed by March and Simon by proposing that the retrenchment process is haphazard and random. The book concludes with some considerations of what happens to the urban policy process during periods of resource scarcity. This book should appeal to anyone interested in public administration, urban studies or political science.
Municipal Fiscal Stress Bankruptcies And Other Financial Emergencies
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Author : Tatyana Guzman
language : en
Publisher: Taylor & Francis
Release Date : 2022-11-30
Municipal Fiscal Stress Bankruptcies And Other Financial Emergencies written by Tatyana Guzman and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-11-30 with Political Science categories.
It is difficult to find someone who has not heard about the Puerto Rico, Detroit, Michigan, or Orange County, California, bankruptcies. While guides for responsibly managing government finances exist, problems often originate not because of poor financial reporting or financial deficiencies but because issues external to financial wellbeing arise, such as economic, demographic, political, legal, or even environmental factors. Exacerbating the problem, there is not much advice in the existing literature on how to act when municipalities face financial struggles. Filling this important gap, this book explores fiscal health and fiscal hardships, municipal defaults and bankruptcies, and many other aspects to help guide local governments during fiscal distress. Fiscal hardships negatively affect the quality and availability of public goods and services and, consequently, the wellbeing of residents and businesses living and working in distressed municipalities. Turned off streetlights, unmaintained public parks, potholes, inconsistent garbage pickup, longer response time from emergency services, and multiple other issues that residents of the struggling municipalities deal with, lead to higher crime rates, lower quality of K-12 education, dangerous road conditions, lower housing values, outmigration of wealthier population, and numerous other problems. The COVID-19 pandemic put additional unprecedented pressure on municipal finances nationwide. In this book authors Tatyana Guzman and Natalia Ermasova evaluate distressed cities and municipalities and provide practical recommendations on improving their financial conditions. What are conditions and signs to look for to not to find yourself in similar situations? What can be done if your municipality is already experiencing fiscal hardships? What are the consequences of fiscal misfortunes? How does one exit a fiscal emergency? This book answers these and other questions and serves as a guide to fiscal health and prosperity for U.S. municipal governments, students and researchers in public finance, and general public management fields.
The Politics Of Fiscal Stress
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Author : Landon Curry
language : en
Publisher:
Release Date : 1990
The Politics Of Fiscal Stress written by Landon Curry and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990 with Business & Economics categories.