Managing Fiscal Stress Book in PDF, ePub and Kindle version is available to download in english. Read online anytime anywhere directly from your device. Click on the download button below to get a free pdf file of Managing Fiscal Stress book. This book definitely worth reading, it is an incredibly well-written.
"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 by Charles H. Levine,Irene Rubin Pdf
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 by International Monetary Fund. Fiscal Affairs Dept. Pdf
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 by Iva Petrova,Nazim Belhocine,MissGabriela Dobrescu,Mr.Emanuele Baldacci Pdf
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.
Managing Fiscal Strain in Major American Cities by William J. Pammer Pdf
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.
Measuring Fiscal Vulnerability and Fiscal Stress by Mr.Emanuele Baldacci,Mr.James McHugh,Iva Petrova Pdf
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 : World Bank Publisher : World Bank Publications Page : 294 pages File Size : 46,8 Mb Release : 2005 Category : Political Science ISBN : 0821361422
Accountability of government to citizens is the foundation for good governance. Unfortunately, many developing countries suffer the results of dysfunctional governance systems that fail to provide even minimal levels of vital public services. The key message of the New Institutional Economics is that incentives matter. In the public sphere, the countries' accountability frameworks rewards, sanctions, and measurement of performance shape public sector performance. This book applies this fundamental insight to fiscal/budgetary analysis and public service delivery, giving the reader tools and around the globe examples of institutional arrangements that help citizens hold government accountable for their performance.
Managing Cities in Austerity by Poul Erik Mouritzen Pdf
Why are some of our cities going broke while others prosper? This study of the failures and successes of city management offers new insights into how to manage cities effectively in today's economic climate. The lessons from cities around the Western world are that innovative strategies can work, that fiscal management strategies such as privatization can be made politically feasible, that the national government's urban policy forms a vital component in success or failure at the city level. Managing Cities in Austerity fills a major gap in the literature on urban policy-making and comparative public policy. The product of one of the largest comparative social science research projects ever undertaken, the Fiscal Austerity and Urban Innovation project, it maintains a genuinely comparative approach. An international team of authors applies a coherent set of concepts about fiscal austerity to over 2,500 local governments in ten Western countries. Most significantly, survey and hard fiscal data are merged not only at city but at national level.
End financial stress for good and learn how to manage your money—without a change to income! Studies have shown time and time again that money is a leading cause of stress—but a life free from financial worry isn’t exclusive to the rich and powerful. End Financial Stress Now gives you practical, actionable instructions you need to improve your money management—no matter what your income level is. You can learn how to achieve the mindset of financial flexibility, which can help you navigate any money issues you face. These practical, step-by-step instructions on budgeting can help you track expenses, pay off debt, and save money. Featuring straightforward advice on how to increase self-discipline so you can stick to your budget as well as techniques to help you identity misinformation and false beliefs you have about money, you can follow this guide to create a fulfilling life free of financial stress.
"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 by Charles H. Levine,Irene S. Rubin Pdf
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
