Uncovering patterns of state short-term debt financing
Bibliographic Data
| ID | 20201539 |
|---|---|
| Authors | Paul C Trogen (East Tennessee State University, corresponding author) |
| Year | 2000 |
| Volume | 12 |
| Issue | 3 |
| Pages | 370-398 |
| Publication date | 2000-03-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Journal of Public Budgeting Accounting & Financial Management (JOURNAL) |
| Journal identifiers | ISSN: 1096-3367 • E-ISSN: 1945-1814 |
| Publisher | Emerald (PUBLISHER) |
| DOI | 10.1108/jpbafm-12-03-2000-b002 |
| OpenAlex | W2775404667 |
| Language | EN |
| References cited | 12 |
Despite balanced budget requirements, each year most states carry short term debt (STD) across fiscal years. Logit analysis results suggest structural fiscal stress causes states to carry STD across fiscal years. This strategy may not be rational, because STD is a tool for smoothing short-term shortfalls, and not for correcting structural fiscal stress. Cross sectional time series analysis results suggest both structural and cyclical factors influence the amount of year end STD. Findings suggest STD amounts fluctuate as a rational temporary replacement for long-term debt, growing when long term rates rise and decreasing when they fall
Debt · Economics · Fiscal policy · Macroeconomics · Monetary economics · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
Inside Bureaucracy
The Fiscal Crisis of the State
Tobit models
On the Determination of the Public Debt
The Federal Role in State Fiscal Stress
Organizational Decline and Cutback Management
Micro-Budgetary Adaptations to Fiscal Stress in Industrialized Democracies
Disentangling Patterns of State Debt Financing
| Highly cited | No |
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