Gonzalez, Christian Y - 2016
Gonzalez and Paqueo examine the effects of budget stabilization funds - often called rainy-day funds - on the … volatility of social spending and, for contrast, on nonsocial sector spending. They analyze the rainy-day funds of U.S. states …. The authors find that rainy-day funds are ineffective in reducing the volatility of nonsocial sector expenditures but are …