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Fiscal Stress (fiscal + stress)

Distribution by Scientific Domains

Humanities and Social Sciences	60%
Business, Economics, Finance and Accounting	40%

Selected Abstracts

TWO TAXATION AGENDAS: THE GALLOP GOVERNMENT'S FIRST TERM

ECONOMIC PAPERS: A JOURNAL OF APPLIED ECONOMICS AND POLICY, Issue 1 2005
Michael McLure
This essay reviews state taxation policy in Western Australia over the Gallop Government's first term of office. Two tax agendas emerged, one concerning reform of the State's tax system and the other concerning measures to increase the tax yield in response to mid-term fiscal stress from unanticipated growth in expenditure. It is suggested that the lack of integration of these two agendas represented a lost policy opportunity, as integration would have provided the potential to implement a much more ambitious tax reform program than that realised by the Government. The lack of integration is partly attributed to the unrealistically low forward estimates of public expenditure outlined in the Government's first budget, as this served to mask the need for additional taxation revenue (and the consequent desirability of an integrated whole-of-term taxation policy) at the very time that reform measures were being actively contemplated. As a consequence, the dominant feature of the Government's first-term tax policy was not reform, but the introduction of large mid-term revenue-raising measures, especially increases in the State's highly inefficient conveyance duty. [source]

The impact of the 2007-2009 crisis on social security and private pension funds: A threat to their financial soundness?

INTERNATIONAL SOCIAL SECURITY REVIEW, Issue 2 2010
Ariel Pino
Abstract Social security and pension funds were affected on an unparalleled scale by the recent financial crisis. They reported massive unrealized investment losses and their governance mechanisms have been challenged, therefore endangering their financial soundness and questioning their capacity to deliver adequate benefits. The year 2009 ended with financial markets recovering, but also with portfolio reallocations and traditional risk management approaches being revisited. Governments have reacted to the crisis and implemented recovery plans that could issue a warning about the mid-term fiscal situation. Post-crisis fiscal stress may generate a trade-off between a re-establishment of a sound fiscal situation and a reduction in social expenditure. This article analyses the impact of the crisis on social security and pension funds and address all the aforementioned issues. [source]

Politics and Economic Development: Why Governments Adopt Different Strategies to Induce Economic Growth

POLICY STUDIES JOURNAL, Issue 2 2001
Martin Sail
This article assesses the forces that drive governments to engage in economic development activity and attempts to explain why communities adopt different strategies to bring about the common goal of economic well-being. I address this issue at the state policy level by assessing the relationship between economic development strategy and theories of policy adoption in a pooled times series analysis using indicators of interstate competition, fiscal stress, and state ideology collected between 1983 and 1994. I find that economic development strategy choices are largely a function of interjurisdictional competition. The implications of my findings are discussed. [source]

Getting Dirty-Minded: Implementing Presidential Policy Agendas Administratively

PUBLIC ADMINISTRATION REVIEW, Issue 4 2009
Robert F. Durant
With polarization in Congress persistent, with staggering issues and international threats facing the nation, and with fiscal stress an enduring fact of life, presidents have for decades turned to the tools of the administrative presidency to advance and implement their policy agendas. As the Barack Obama administration completed its first six months in office amid great challenges and hopes, the president was no exception in counting on his appointees to wield the tools of the administrative presidency to advance his protean policy agenda for America. This essay offers 10 research-based lessons for new appointees charged with advancing presidential agendas administratively to ponder as they do so. [source]

State Rainy Day Funds and Fiscal Crises: Rainy Day Funds and the 1990,1991 Recession Revisited

PUBLIC BUDGETING AND FINANCE, Issue 1 2002
James W. Douglas
The recession of the early 1980s prompted many states to establish budget stabilization (rainy day) funds. Initial examinations of rainy day funds find a limited impact by the funds in alleviating fiscal stress. In this article, we propose an enhanced model of rainy day fund impact. Using data from 48 states for the 1990,1991 recession, our analysis indicates that the presence of a number of structural factors and the maintenance of generally large balances in other funds entering recession helps to alleviate fiscal stress when a state's economy is in recession. [source]