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Fiscal severity and the choice of budget gap closing strategies

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  • Hai (David) Guo
  • Milena Neshkova

Abstract

The great recession of 2008 forced US local governments to pursue a series of measures to maintain a balanced budget. The authors investigated local governments’ response to the great recession with a focus on Florida, where a crash in the housing market led to a severe erosion of the property tax base. Following the classic cutback management theory, the authors examine how the severity of fiscal stress affected the choice of budget-balancing strategies by Florida’s local governments. The severity of fiscal stress was found to affect not only the number of budget gap closing strategies but also the pattern of adoption of these strategies consistent with the administrative response model.

Suggested Citation

  • Hai (David) Guo & Milena Neshkova, 2018. "Fiscal severity and the choice of budget gap closing strategies," Public Money & Management, Taylor & Francis Journals, vol. 38(4), pages 305-314, June.
    • Handle: RePEc:taf:pubmmg:v:38:y:2018:i:4:p:305-314
    DOI: 10.1080/09540962.2018.1450913
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    Cited by:

    1. Elisha Adeboye & Gbemisola Labisi & Victor Ekere, 2024. "Enhanced Financial Reporting for Unfunded Obligations in the US Economy," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(5), pages 1637-1646, May.
    2. Vania Palmieri & Mario Turco, 2020. "Crisi e cambiamento delle istituzioni di contabilit? pubblica. Il caso delle amministrazioni centrali dello Stato," MANAGEMENT CONTROL, FrancoAngeli Editore, vol. 2020(3), pages 87-112.

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