In this research, we examine the impact of municipal governments' internal fiscal structure and external fiscal policy space on operational spending volatility and fund balances. We test our model using a system of two equations that is estimated with panel data consisting of 265 municipalities in the Chicago metropolitan region from 1997 to 2009. We find that these governments are managing spending volatility using tools available in both dimensions and that the fund balance is a critical tool for this purpose. We also find that the impact of a stringent versus relaxed set of options (home rule) for managing this financial problem is likely to be more complex than what is represented in prior research.
作者
我是这篇论文的作者
点击您的名字以认领此论文并将其添加到您的个人资料中。
推荐
暂无数据