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The Impact of Institutional Characteristics on the Use and Effectiveness of Rainy Day Funds: A Pilot Study of Municipal Governments in West Virginia

Author

Listed:
  • Michael Daugherty

    () (West Virginia University, Extension Service)

  • Odd Stalebrink

    () (West Virginia University, Division of Public Administration)

  • Mehmet Tosun

    () (Department of Economics, University of Nevada, Reno)

Abstract

This research focuses on enhancing the understanding of the use of “rainy day funds” to deal with municipal fiscal shortfalls. It is a pilot study, examining the largest 15 cities in West Virginia. Analysis of data from state reports and interviews with finance directors are used to determine whether, how, and to the degree the cities studied use various reserve fund mechanisms. While almost every city was found to have fiscal reserves, there was great variation in the methods used and amounts in how it was done – some cities followed predictable patterns found elsewhere while others did not.

Suggested Citation

  • Michael Daugherty & Odd Stalebrink & Mehmet Tosun, 2006. "The Impact of Institutional Characteristics on the Use and Effectiveness of Rainy Day Funds: A Pilot Study of Municipal Governments in West Virginia," Working Papers 06-012, University of Nevada, Reno, Department of Economics;University of Nevada, Reno , Department of Resource Economics.
  • Handle: RePEc:unr:wpaper:06-012
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    File URL: http://www.business.unr.edu/econ/wp/papers/UNRECONWP06012.pdf
    File Function: First version, 2006
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    More about this item

    Keywords

    Rainy day funds; municipal governments; West Virginia;

    JEL classification:

    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures
    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration

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