The Determinants of the Structure of Rainy Day Funds
Bibliographic Data
| ID | 6358658 |
|---|---|
| Authors | Isabel Rodríguez‐tejedo (0000-0002-5433-8328, Universidad de Navarra, corresponding author) |
| Year | 2012 |
| Volume | 72 |
| Issue | 3 |
| Pages | 376-386 |
| Publication date | 2012-03-08 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Public Administration Review (JOURNAL) |
| Journal identifiers | ISSN: 0033-3352 • E-ISSN: 1540-6210 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1540-6210.2011.02523.x |
| OpenAlex | W2112272455 |
| Language | EN |
| Citations received | 14 |
| References cited | 25 |
This article investigates the factors that determine the configuration of budget stabilization funds, also known as rainy day funds, along their two most important dimensions: deposit and withdrawal requirements. These funds are created to accumulate savings in order to reduce the impact of adverse fiscal conditions during downturns. The effectiveness of such funds depends greatly on their institutional structure, and yet most states choose configurations that compromise their efficacy. Using multinomial discrete techniques, and introducing the ordered nature of the requirements in the analysis, the results of this study indicate that political and institutional factors such as the size of the house of the legislature and some strict institutions are associated with weak budget stabilization funds, while economic factors such as the volatility of state tax revenues are associated with stricter funds
Balanced budget · Business · Compromise · Economics · Legislature · Monetary economics · Multinomial logistic regression · Order (exchange · Political science · Politics · Public economics · Revenue · Volatility (finance · Finance · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Housing Market and Economics
Machine learning to predict local government deficits during economic downturns
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State Fiscal Reserves and the Great Recession
State government saving over the business cycle
Local option sales taxes and county rainy day funds
Fiscal resilience, fiscal sustainability and social infrastructure expenditure
The Partisan Politics of Rainy Day Fund Investment
Police Use of Force Interactions
Más allá de la Regla de Oro
The Politics of Local Government Stabilization Funds
Fiscal Slack, Rule Constraints, and Government Corruption
Does the Stringency of State Tax and Expenditure Limitations Discourage Political Manipulation in Fiscal Reserves
Disaster Experience and Governments’ Savings
The effects of tax and expenditure limits on state fiscal reserves
Political Economy in Macroeconomics
The cyclical behaviour of fiscal policy
Specification Tests for the Multinomial Logit Model
Multinomial Logit Specification Tests
Deviations From Constituent Interests
An Essay on Fiscal Federalism
Generalized Ordered Logit/Partial Proportional Odds Models for Ordinal Dependent Variables
Intertemporal Analysis of State and Local Government Spending
Problems of Majority Voting
State Responses to Fiscal Crises
Constitutions, Corporations, and Corruption
The Measurement and Stability of State Citizen Ideology
Goodness-of-Fit Measures for Probit and Logit
Divided Government, Fiscal Institutions, and Budget Deficits
Fiscal Policy Outcomes and Electoral Accountability in American States
| Unique citing works | 14 |
|---|---|
| Citations per year | 1,17 |
| Citation span | 2014 - 2026 (13) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 14 |