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...

This handbook evaluates the persistent problems in the fiscal systems of state and local governments and what can be done to solve them. Each chapter provides a description of the discipline area, examines major developments in policy practices and research, and opines on future prospects.

Preface / Joseba Agirreazkuenaga -- Small states in a time of big crises: Nevada, Ireland, and the Basque autonomous community -- During the Great recession / Elliott Parker -- Resilience of cooperatives in times of crisis : are mondragon's strategies in coping with crisis still a competitive...