The fiscal crisis encountered by state-local governments since 2008 has again made prominent the issue of how to better prepare for and stabilize expenditures during recessions. Does the economic stabilization function of government, and its theory, still hold? Previous studies focus on federal...

This article divides the era of performance-based budgeting (PBB) into three periods: rise and development in the 1990s, continuation and peak in the 2000s and level-off afterwards. The article examines the performance of PBB on four aspects: development of performance measures, its use in...

The funding of basic education is provided via different schemes. In the United States, local sources had long been dominant; equity concerns later pulled in the state for resource equalization under constitutional considerations. Another scheme is the involvement of the central government. In...

Deficits and debts are very complex issues for eternal public debate. The norm of budget balance - whether as a value judgment or ideal, as a political symbol or as a budgetary principle - often appears in literature and public debate over federal budgetary and fiscal policies. This paper offers...