Great Recession and fiscal squeeze at U.S. subnational government level /:
The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the pro...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Körperschaft: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
[Place of publication not identified] :
International Monetary Fund,
2012.
|
| Schriftenreihe: | IMF working paper ;
WP/12/184. |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the procyclical nature of this policy response, provides a brief comparison with subnational policy stances in other advanced economies, and discusses some options for making subnational fiscal policy less procyclical within the framework of current rules. |
| Beschreibung: | 1 online resource : illustrations |
| Bibliographie: | Includes bibliographical references. |
| ISBN: | 1475551045 9781475551044 |
Internformat
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| 100 | 1 | |a Jonáš, Jiří, |e author. |0 http://id.loc.gov/authorities/names/n91009128 | |
| 245 | 1 | 0 | |a Great Recession and fiscal squeeze at U.S. subnational government level / |c [prepared by] Jiri Jonas. |
| 260 | |a [Place of publication not identified] : |b International Monetary Fund, |c 2012. | ||
| 300 | |a 1 online resource : |b illustrations | ||
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| 490 | 1 | |a IMF working paper ; |v WP/12/184 | |
| 504 | |a Includes bibliographical references. | ||
| 520 | |a The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the procyclical nature of this policy response, provides a brief comparison with subnational policy stances in other advanced economies, and discusses some options for making subnational fiscal policy less procyclical within the framework of current rules. | ||
| 505 | 0 | |a Cover; Abstract; Contents; I. Introduction; II. The Scope and Impact of Balanced Budget Rules; Figures; 1. Century of Government Debt; 2. US State and Local Debt, 2009; Tables; 1. Number of States with Balanced Budget Rules; 3. State Budget Rules and 2010 Debt Level; III. Impact of the Crisis on State Budgets; A. State Budget Gaps; 4. State Budget Gaps, FY 2002 to FY 2013; B. Tax Revenue; 5. State Budget Gaps in Percent of Tax Receipts; 6. Tax Receipts; 7. State and Local Real Tax Revenue; 8. State and Local Tax Receipts; 9. Share in Total State and Local Tax Collection, 2011 Q1. | |
| 505 | 8 | |a 10. State Tax Collection and GSP in 2010 Relative to 2007C. Expenditure; 11. Real Spending of State and Local Governments; D. Long-Term Fiscal Impact; IV. States' Responses to the Crisis; 2. Total End-Year Balances as a Percentage of Expenditures; 12. Total End-Year State Budgetary Balances; 13. Estimated Revenue Impact of State Tax Law Changes; 3. Number of States with Enacted Tax Increase; 14. State Nominal and Real Annual General Fund Spending Change; 15. Nominal Change in General Fund State Expenditure; 16. Government and Private Employment. | |
| 505 | 8 | |a 17. Federal Grants as Percent of State Tax Receipts18. State Budget Shortfalls and Federal Transfers; V. Was There Too Much Austerity at the State Level?; 19. Measures to Close State Budget Gaps, FY 2008-FY 2012; 20. Net Government Lending/Borrowing ( -- ); 21. Contribution to GDP Growth; 4. Subnational Governments' Response to the Crisis; 5. Growth of Pure Fiscal Expenditure and Real GDP Growth; 22. Municipal 20 Y Bond Yield by Rating Grade; VI. Conclusion; 23. State and Local Real Government Spending; Appendix; Data Sources on U.S. State and Local Governments; References. | |
| 650 | 0 | |a Finance, Public |z United States. |0 http://id.loc.gov/authorities/subjects/sh85048288 | |
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| 650 | 0 | |a Fiscal policy |z United States. | |
| 650 | 0 | |a Global Financial Crisis, 2008-2009. |0 http://id.loc.gov/authorities/subjects/sh2009003683 | |
| 650 | 6 | |a Finances publiques |z États-Unis. | |
| 650 | 6 | |a Processus budgétaire |z États-Unis. | |
| 650 | 6 | |a Politique fiscale |z États-Unis. | |
| 650 | 6 | |a Crise financière mondiale, 2008-2009. | |
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| 650 | 7 | |a Budget process |2 fast | |
| 650 | 7 | |a Finance, Public |2 fast | |
| 650 | 7 | |a Fiscal policy |2 fast | |
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| _version_ | 1816796917507555328 |
| adam_text | |
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| author | Jonáš, Jiří |
| author_GND | http://id.loc.gov/authorities/names/n91009128 |
| author_corporate | International Monetary Fund. Fiscal Affairs Department |
| author_corporate_role | |
| author_facet | Jonáš, Jiří International Monetary Fund. Fiscal Affairs Department |
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| author_sort | Jonáš, Jiří |
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| callnumber-first | H - Social Science |
| callnumber-label | HJ257 |
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| contents | Cover; Abstract; Contents; I. Introduction; II. The Scope and Impact of Balanced Budget Rules; Figures; 1. Century of Government Debt; 2. US State and Local Debt, 2009; Tables; 1. Number of States with Balanced Budget Rules; 3. State Budget Rules and 2010 Debt Level; III. Impact of the Crisis on State Budgets; A. State Budget Gaps; 4. State Budget Gaps, FY 2002 to FY 2013; B. Tax Revenue; 5. State Budget Gaps in Percent of Tax Receipts; 6. Tax Receipts; 7. State and Local Real Tax Revenue; 8. State and Local Tax Receipts; 9. Share in Total State and Local Tax Collection, 2011 Q1. 10. State Tax Collection and GSP in 2010 Relative to 2007C. Expenditure; 11. Real Spending of State and Local Governments; D. Long-Term Fiscal Impact; IV. States' Responses to the Crisis; 2. Total End-Year Balances as a Percentage of Expenditures; 12. Total End-Year State Budgetary Balances; 13. Estimated Revenue Impact of State Tax Law Changes; 3. Number of States with Enacted Tax Increase; 14. State Nominal and Real Annual General Fund Spending Change; 15. Nominal Change in General Fund State Expenditure; 16. Government and Private Employment. 17. Federal Grants as Percent of State Tax Receipts18. State Budget Shortfalls and Federal Transfers; V. Was There Too Much Austerity at the State Level?; 19. Measures to Close State Budget Gaps, FY 2008-FY 2012; 20. Net Government Lending/Borrowing ( -- ); 21. Contribution to GDP Growth; 4. Subnational Governments' Response to the Crisis; 5. Growth of Pure Fiscal Expenditure and Real GDP Growth; 22. Municipal 20 Y Bond Yield by Rating Grade; VI. Conclusion; 23. State and Local Real Government Spending; Appendix; Data Sources on U.S. State and Local Governments; References. |
| ctrlnum | (OCoLC)903698829 |
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| dewey-ones | 336 - Public finance |
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| dewey-search | 336.73 |
| dewey-sort | 3336.73 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| era | 2008-2009 fast |
| era_facet | 2008-2009 |
| format | Electronic eBook |
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| indexdate | 2024-11-26T14:49:18Z |
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| series | IMF working paper ; |
| series2 | IMF working paper ; |
| spelling | Jonáš, Jiří, author. http://id.loc.gov/authorities/names/n91009128 Great Recession and fiscal squeeze at U.S. subnational government level / [prepared by] Jiri Jonas. [Place of publication not identified] : International Monetary Fund, 2012. 1 online resource : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier IMF working paper ; WP/12/184 Includes bibliographical references. The paper discusses the fiscal impact of the Great Recession of 2007-08 on state and local governments in the United States. It documents the sharp decline in tax revenue and discusses how states responded to close the budget gaps in order to obey the balanced budget provisions. It highligts the procyclical nature of this policy response, provides a brief comparison with subnational policy stances in other advanced economies, and discusses some options for making subnational fiscal policy less procyclical within the framework of current rules. Cover; Abstract; Contents; I. Introduction; II. The Scope and Impact of Balanced Budget Rules; Figures; 1. Century of Government Debt; 2. US State and Local Debt, 2009; Tables; 1. Number of States with Balanced Budget Rules; 3. State Budget Rules and 2010 Debt Level; III. Impact of the Crisis on State Budgets; A. State Budget Gaps; 4. State Budget Gaps, FY 2002 to FY 2013; B. Tax Revenue; 5. State Budget Gaps in Percent of Tax Receipts; 6. Tax Receipts; 7. State and Local Real Tax Revenue; 8. State and Local Tax Receipts; 9. Share in Total State and Local Tax Collection, 2011 Q1. 10. State Tax Collection and GSP in 2010 Relative to 2007C. Expenditure; 11. Real Spending of State and Local Governments; D. Long-Term Fiscal Impact; IV. States' Responses to the Crisis; 2. Total End-Year Balances as a Percentage of Expenditures; 12. Total End-Year State Budgetary Balances; 13. Estimated Revenue Impact of State Tax Law Changes; 3. Number of States with Enacted Tax Increase; 14. State Nominal and Real Annual General Fund Spending Change; 15. Nominal Change in General Fund State Expenditure; 16. Government and Private Employment. 17. Federal Grants as Percent of State Tax Receipts18. State Budget Shortfalls and Federal Transfers; V. Was There Too Much Austerity at the State Level?; 19. Measures to Close State Budget Gaps, FY 2008-FY 2012; 20. Net Government Lending/Borrowing ( -- ); 21. Contribution to GDP Growth; 4. Subnational Governments' Response to the Crisis; 5. Growth of Pure Fiscal Expenditure and Real GDP Growth; 22. Municipal 20 Y Bond Yield by Rating Grade; VI. Conclusion; 23. State and Local Real Government Spending; Appendix; Data Sources on U.S. State and Local Governments; References. Finance, Public United States. http://id.loc.gov/authorities/subjects/sh85048288 State governments United States. Budget process United States. Fiscal policy United States. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Finances publiques États-Unis. Processus budgétaire États-Unis. Politique fiscale États-Unis. Crise financière mondiale, 2008-2009. BUSINESS & ECONOMICS Public Finance. bisacsh Budget process fast Finance, Public fast Fiscal policy fast State governments fast United States fast https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq Global Financial Crisis (2008-2009) fast (OCoLC)fst01755654 https://id.oclc.org/worldcat/entity/E39Qhp4vBbr3T8xBMDbJhDhGmm 2008-2009 fast International Monetary Fund. Fiscal Affairs Department. http://id.loc.gov/authorities/names/n81027435 has work: Great Recession and fiscal squeeze at U.S. subnational government level (Text) https://id.oclc.org/worldcat/entity/E39PCFyChmcmBK3Yh3W7qdgfC3 https://id.oclc.org/worldcat/ontology/hasWork IMF working paper ; WP/12/184. http://id.loc.gov/authorities/names/no89010263 FWS01 ZDB-4-EBU FWS_PDA_EBU https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568158 Volltext |
| spellingShingle | Jonáš, Jiří Great Recession and fiscal squeeze at U.S. subnational government level / IMF working paper ; Cover; Abstract; Contents; I. Introduction; II. The Scope and Impact of Balanced Budget Rules; Figures; 1. Century of Government Debt; 2. US State and Local Debt, 2009; Tables; 1. Number of States with Balanced Budget Rules; 3. State Budget Rules and 2010 Debt Level; III. Impact of the Crisis on State Budgets; A. State Budget Gaps; 4. State Budget Gaps, FY 2002 to FY 2013; B. Tax Revenue; 5. State Budget Gaps in Percent of Tax Receipts; 6. Tax Receipts; 7. State and Local Real Tax Revenue; 8. State and Local Tax Receipts; 9. Share in Total State and Local Tax Collection, 2011 Q1. 10. State Tax Collection and GSP in 2010 Relative to 2007C. Expenditure; 11. Real Spending of State and Local Governments; D. Long-Term Fiscal Impact; IV. States' Responses to the Crisis; 2. Total End-Year Balances as a Percentage of Expenditures; 12. Total End-Year State Budgetary Balances; 13. Estimated Revenue Impact of State Tax Law Changes; 3. Number of States with Enacted Tax Increase; 14. State Nominal and Real Annual General Fund Spending Change; 15. Nominal Change in General Fund State Expenditure; 16. Government and Private Employment. 17. Federal Grants as Percent of State Tax Receipts18. State Budget Shortfalls and Federal Transfers; V. Was There Too Much Austerity at the State Level?; 19. Measures to Close State Budget Gaps, FY 2008-FY 2012; 20. Net Government Lending/Borrowing ( -- ); 21. Contribution to GDP Growth; 4. Subnational Governments' Response to the Crisis; 5. Growth of Pure Fiscal Expenditure and Real GDP Growth; 22. Municipal 20 Y Bond Yield by Rating Grade; VI. Conclusion; 23. State and Local Real Government Spending; Appendix; Data Sources on U.S. State and Local Governments; References. Finance, Public United States. http://id.loc.gov/authorities/subjects/sh85048288 State governments United States. Budget process United States. Fiscal policy United States. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Finances publiques États-Unis. Processus budgétaire États-Unis. Politique fiscale États-Unis. Crise financière mondiale, 2008-2009. BUSINESS & ECONOMICS Public Finance. bisacsh Budget process fast Finance, Public fast Fiscal policy fast State governments fast |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85048288 http://id.loc.gov/authorities/subjects/sh2009003683 (OCoLC)fst01755654 |
| title | Great Recession and fiscal squeeze at U.S. subnational government level / |
| title_auth | Great Recession and fiscal squeeze at U.S. subnational government level / |
| title_exact_search | Great Recession and fiscal squeeze at U.S. subnational government level / |
| title_full | Great Recession and fiscal squeeze at U.S. subnational government level / [prepared by] Jiri Jonas. |
| title_fullStr | Great Recession and fiscal squeeze at U.S. subnational government level / [prepared by] Jiri Jonas. |
| title_full_unstemmed | Great Recession and fiscal squeeze at U.S. subnational government level / [prepared by] Jiri Jonas. |
| title_short | Great Recession and fiscal squeeze at U.S. subnational government level / |
| title_sort | great recession and fiscal squeeze at u s subnational government level |
| topic | Finance, Public United States. http://id.loc.gov/authorities/subjects/sh85048288 State governments United States. Budget process United States. Fiscal policy United States. Global Financial Crisis, 2008-2009. http://id.loc.gov/authorities/subjects/sh2009003683 Finances publiques États-Unis. Processus budgétaire États-Unis. Politique fiscale États-Unis. Crise financière mondiale, 2008-2009. BUSINESS & ECONOMICS Public Finance. bisacsh Budget process fast Finance, Public fast Fiscal policy fast State governments fast |
| topic_facet | Finance, Public United States. State governments United States. Budget process United States. Fiscal policy United States. Global Financial Crisis, 2008-2009. Finances publiques États-Unis. Processus budgétaire États-Unis. Politique fiscale États-Unis. Crise financière mondiale, 2008-2009. BUSINESS & ECONOMICS Public Finance. Budget process Finance, Public Fiscal policy State governments United States |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=568158 |
| work_keys_str_mv | AT jonasjiri greatrecessionandfiscalsqueezeatussubnationalgovernmentlevel AT internationalmonetaryfundfiscalaffairsdepartment greatrecessionandfiscalsqueezeatussubnationalgovernmentlevel |