The budgetary data for 2011-12 indicates the commitment of States to carry forward fiscal correction, as evident from the emergence of revenue surplus after a gap of two years and consequent reduction in fiscal deficit-GDP ratio. Notwithstanding the improvement in the revenue account, the...

Balanced-budget rules alone are not sufficient to ensure states’ long-term fiscal health.

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

While sparse literature exists investigating the impact of the Great Recession on various sectors of the economy, there is virtually no research that studies the effect of the Great Recession, or past recessions, on schools. This paper starts to fill the void. Studying school funding during the...

В статье проанализированы состояние и особенности финансового обеспечения системы здравоохранения в Украине по сравнению с другими странами мира. Доказано...

В статье проанализирована проблема обеспечения эффективного и законного функционирования системы государственных финансов в Украине. Обоснована...

The ARRA stimulus package was designed to spur economic and employment growth in response to a deepening U.S. recession and the weakened fiscal conditions of many state governments. An analysis of the local allocation of ARRA funds shows that the $35 billion of stimulus spending in New York was...

Remarks at the Quarterly Regional Economic Press Briefing, New York City.

State tax revenues have become far more sensitive to changing economic conditions since the turn of the century. The authors document this increasing volatility and offer suggestions for what state governments might do to better manage their tax revenues to avoid or minimize dramatic fiscal...