Description
Book SynopsisThis book is the first comprehensive, full-scale treatment of the law, politics and economics with regard to the policies and policy instruments for budget stabilization at the state level.
Table of ContentsTable of Contents.- Preface.- List of Abbreviations.- 1. Introduction and Overview.- Part I: From Economic Stabilization to Budget Stabilization: Theory and Tools.- 2. From Economic Stabilization to Budget Stabilization.- 3. Subnational Government Tools for Budget Stabilization.- Part II: Boom-Year Savings and Effects in Bust Years.- 4. Patterns of State Savings with BSF and GFS.- 5. State Saving Behavior – Effects of BSF in Interaction with BBR.- 6. Effects of Boom-year Savings across Three Types of State Expenditures.- 7. Effects of Boom-year Savings on Bust-year Budgetary Actions.- Part III: Implications for Budgeting and Financial Management.- 8. Budgeting for Fiscal Stability over the Economic Cycle.- 9. Boom-Year Savings and Budgetary Forecasting.- 10. Debt as Counter-cyclical Fiscal Tool.- 11. A Framework for Fiscal Policy Coordination and Economic Stability.- 12. Prospects for Budget Stabilization by Subnational Governments.- References.- Notes.- General Appendixes.- Index.
