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Fiscal Health for Local Governments
Author: Beth Walter Honadle
Publisher: Elsevier
Published: 2003-12-18
Total Pages: 271
ISBN-13: 9780080472782
DOWNLOAD EBOOK →Fiscal Health for Local Governments offers a how-to approach to identifying and solving financial problems. Its principal selling point lies in its assumptions: instead of using the vocabulary and research agendas of economist, finance scholars, and political scientists, it will appeal to readers who lack sophisticated knowledge in these areas and nevertheless need practical advice. The book stems from the Fiscal Health Education Program, an applied economics program at the University of Minnesota. It uses three measures of fiscal health — financial condition, trend analysis, and financial trend monitoring system — as the basis for advocating particular fiscal strategies. The book examines the tools that can be used to assess the condition of a local government's fiscal health and some of the policy causes or remedies for certain situations, as well as some of the strategies governments can pursue to maintain and improve health. It will serve as a primer for readers interested in understanding financial processes and alternatives, and as a practical guide for those who need access to fiscal measurement tools. How-to approach will appeal to readers who lack sophisticated knowledge Contains discussion questions and anonymous case studies of actual cities and municipalities Presents practical methods for identifying and solving common fiscal problems
The Fundamentals of Municipal Bonds
Author: SIFMA
Publisher: John Wiley & Sons
Published: 2011-10-25
Total Pages: 326
ISBN-13: 1118166841
DOWNLOAD EBOOK →The definitive new edition of the most trusted book on municipal bonds As of the end of 1998, municipal bonds, issued by state or local governments to finance public works programs, such as the building of schools, streets, and electrical grids, totaled almost $1.5 trillion in outstanding debt, a number that has only increased over time. The market for these bonds is comprised of many types of professionals—investment bankers, underwriters, traders, analysts, attorneys, rating agencies, brokers, and regulators—who are paid interest and principal according to a fixed schedule. Intended for investment professionals interested in how US municipal bonds work, The Fundamentals of Municipal Bonds, Sixth Edition explains the bond contract and recent changes in this market, providing investors with the information and tools they need to make bonds reliable parts of their portfolios. The market is very different from when the fifth edition was published more than ten years ago, and this revision reasserts Fundamentals of Municipal Bonds as the preeminent text in the field Explores the basics of municipal securities, including the issuers, the primary market, and the secondary market Key areas, such as investing in bonds, credit analysis, interest rates, and regulatory and disclosure requirements, are covered in detail This revised edition includes appendixes, a glossary, and a list of financial products related to applying the fundamentals of municipal bonds An official book of the Securities Industry and Financial Markets Association (SIFMA) With today's financial market in recovery and still highly volatile, investors are looking for a safe and steady way to grow their money without having to invest in stocks. The bond market has always been a safe haven, although confusing new bonds and bond funds make it increasingly difficult for unfamiliar investors to decide on the most suitable fixed income investments.
Government Finance Statistics Manual 2014
Author: Mrs.Sage De Clerck
Publisher: International Monetary Fund
Published: 2015-03-10
Total Pages: 470
ISBN-13: 1498379214
DOWNLOAD EBOOK →The 2007–09 international financial crisis underscored the importance of reliable and timely statistics on the general government and public sectors. Government finance statistics are a basis for fiscal analysis and they play a vital role in developing and monitoring sound fiscal programs and in conducting surveillance of economic policies. The Government Finance Statistics Manual 2014 represents a major step forward in clarifying the standards for compiling and presenting fiscal statistics and strengthens the worldwide effort to improve public sector reporting and transparency.
The Fiscal Costs of Contingent Liabilities
Author: Ms.Elva Bova
Publisher: International Monetary Fund
Published: 2016-02-08
Total Pages: 55
ISBN-13: 1498303609
DOWNLOAD EBOOK →We construct the first comprehensive dataset of contingent liability realizations in advanced and emerging markets for the period 1990–2014. We find that contingent liability realizations are a major source of fiscal distress. The average fiscal cost of a contingent liability realization is 6 percent of GDP but costs can be as high as 40 percent for major financial sector bailouts. Contingent liability realizations are correlated among each other and tend to occur during periods of growth reversals and crises, accentuating pressure on the budget during already difficult times. Countries with stronger institutions are able to better control and address the underlying risks so that they are less exposed to contingent liability realizations.
Minding the Public Purse
Author: Janice MacKinnon
Publisher: McGill-Queen's Press - MQUP
Published: 2003-03-06
Total Pages: 352
ISBN-13: 0773571124
DOWNLOAD EBOOK →MacKinnon, Canada's first female finance minister, provides keen observations on how personalities and shared regional perspectives cut across party affiliations in the evolution of federal-provincial deliberations on managing the debt crisis. Although initially opposed to the radical cuts and downloading unilaterally imposed by the federal minister of Finance in his 1995 budget, she now argues that they were essential and analyses how they have irrevocably transformed the Canadian federation. MacKinnon provides a timely analysis of the implications of the fiscal crisis for the future of medicare and Canada's other social programs and shows why politicians must involve the Canadian public in an open and frank debate about the challenges and choices facing the nation.
Municipalities in Distress?
Author: James Spiotto
Publisher:
Published: 2016-02-15
Total Pages:
ISBN-13: 9780692624777
DOWNLOAD EBOOK →A 50 State Survey of: (1) Rights and Remedies Provided by States to Investors, (2) State Supervision and Oversight Mechanisms of Financially Distressed Local Governments and (3) State Authorization of Municipalities to File Chapter 9 Bankruptcy
Fiscal Rules—Anchoring Expectations for Sustainable Public Finances
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
Published: 2009-12-11
Total Pages: 73
ISBN-13: 1498335160
DOWNLOAD EBOOK →The sharp increase in fiscal deficits and public debt in most advanced and several developing economies has raised concerns about the sustainability of public finances and highlighted the need for a significant adjustment over the medium term. This paper assesses the usefulness of fiscal rules in supporting fiscal consolidation, discusses the design and implementation of rules based on a new data base spanning the whole Fund membership, and explores the fiscal framework that could be adopted as countries emerge from the crisis.
Guidelines for Public Debt Management -- Amended
Author: International Monetary Fund
Publisher: International Monetary Fund
Published: 2003-09-12
Total Pages: 39
ISBN-13: 149832892X
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Bank Solvency and Funding Cost
Author: Mr.Stefan W. Schmitz
Publisher: International Monetary Fund
Published: 2017-05-15
Total Pages: 46
ISBN-13: 1484300661
DOWNLOAD EBOOK →This paper presents new evidence on the empirical relationship between bank solvency and funding costs. Building on a newly constructed dataset drawing on supervisory data for 54 large banks from six advanced countries over 2004–2013, we use a simultaneous equation approach to estimate the contemporaneous interaction between solvency and liquidity. Our results show that liquidity and solvency interactions can be more material than suggested by the existing empirical literature. A 100 bps increase in regulatory capital ratios is associated with a decrease of bank funding costs of about 105 bps. A 100 bps increase in funding costs reduces regulatory capital buffers by 32 bps. We also find evidence of non-linear effects between solvency and funding costs. Understanding the impact of solvency on funding costs is particularly relevant for stress testing. Our analysis suggests that neglecting the dynamic features of the solvency-liquidity nexus in the 2014 EU-wide stress test could have led to a significant underestimation of the impact of stress on bank capital ratios.
