We examine the effects of the economy on the government budget as well as the effects of the budget on the economy. First, we provide measures of the effects of automatic stabilizers on budget outcomes at the federal and state and local levels. For the federal government, the deficit increases...

This report summarizes the results of the Public–Private Partnerships (PPP) in Urbanization workshop held in Beijing in August 2013. The workshop was organized by the Ministry of Finance, the National Development and Reform Commission, the Asian Development Bank (ADB), the PPP Research...

We examine the interplay of the economy and state and local budgets by developing and examining two measures of fiscal policy: the high-employment budget and fiscal impetus. We find that a 1 percentage point increase in cyclical GDP results in a 0.1 percentage point increase in NIPA-based net...