Chapter 13: The Lack of a Budgetary Theory
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The document discusses government budgeting and its role in planning and allocating resources. Budget-makers must determine how to best allocate limited revenues across spending agencies to maximize social utility. They face challenges in balancing the requests of all agencies. Pressure groups can also influence funding allocations based on political interests rather than public value. Overall, the budget represents the government's judgments about distributing goods and services based on its priorities.
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While looking at the budget from the federal, state, local, or community governments, consideration must be given to whether the monies being used and given to local entities are going to be used for economic growth. There will be disagreements concerning the appropriation of funds and fund management for the communities, but also for the main distributor-the federal government. The budget is the key focal point for public administration to function and make decisions. Monies that are received by public entities create a huge sense of power for those who shape the methods of how the monies are going to be spent. The upper management or executives must learn the conceptual framework that is used for budgeting, financing, and the allocation of those funds that have been received. Thus an accountant will be necessary for any good executive team within the organization. There are several different types of budgets that can be issued for an organization:.
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Why Do Economists Still Disagree over
Government Spending Multipliers?
Daniel Carroll
Public debate about the effects of government spending heated up after record-large stimulus packages were enacted
to address the fallout of the fi nancial crisis. Almost as noticeable as the discord was the absence of consensus among
prominent economists on the issue. While it seems a simple problem to estimate the effect of government spending on
output—the size of the government multiplier—it is anything but.
ISSN 0428-1276
Over the past several years, attention has focused on the
dangers of medium- and long-run imbalances in government
budgets. This was less the case at the beginning of the
recent fi nancial crisis, when the question was if and how the
government should try to stimulate the economy. But before
long, the debate surfaced. Some argued that the government
should prop up falling private demand with increased
spending. Others claimed that increased government
spending would have little to no stimulative effect in the
short run and that it might even be contractionary.
Economists could offer little in the way of clarifi cation, with
venerated scholars falling on both sides of the debate. This
failure of economists to agree on the issue leads some in
the public to suppose that economists are incompetent, or
perhaps worse, politically motivated.
The truth is that economists have struggled to answer
the question, “What effect does an increase in government
spending today have on output in the future?” In economics,
this effect is called the government spending multiplier,
and unfortunately for those of us who would like certainty
on the matter, there are major challenges associated with
measuring it. An appreciation for these challenges should
explain why competent scholars can hold widely different
opinions about the effect of government spending on output.
Measurement Challenges
Problems with measuring the government spending
multiplier begin at the outset—with the way the question
itself is phrased. At fi rst, it seems like a natural question,
but in fact it is far too general.
For starters, it is presumptuous to speak of “the”
government spending multiplier as if there is only one.
Because a change in government spending is likely to
infl uence output over multiple periods in the future, separate
multipliers could be created for each period. To calculate
the appropriate multiplier, should we look at how much
output changes one quarter in the future? One year? Five
years? There is no universally accepted answer. Some studies
report a collection of multipliers over a specifi c time period
(for example, a multiplier for each quarter up to three years).
Others average these numbers or report a range.
Taking a stand on timing is not suffi cient however. One
must also consider what type of government spending
is increased. Surely an increase in milita.
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Citing:
Shafritz, J. M., Russell, E. W., & Borick, C. P. (2013). Introducing public administration
(8th ed.). Upper Saddle River, NJ: Pearson.
Reading Assignment Chapter 13: Public Financial Management
Unit Lesson
Budgeting is an important area within public institutions. This allows the jurisdiction to reference these important documents when there are questions regarding expenditures, line item purchases, and overall capital budgets. Capital budgets normally are written and established in the year prior to the implementation, for example, budgets for 2013 would be asked for during 2012. These budgets can be used for formulating how much of a surplus will be made available for contractors that may be working for the institution, security measures such as cameras that may be needed for security at a public venue, and being able to budget for supplies that are required for everyday functioning capacity within the organization. Budget formatting can be intriguing for most public entities and the professionals working within those organizations.
The size of technological spreadsheets that cite policies and create a timeline for the expenditures being used have a section specially designated for program objectives, and have a section that normally is set aside to delineate the government’s total service effort. The flow of management funds is the backbone of any institution, government entity, or public service venue. Without the flow of monetary compensation and grant money distribution, there will be limited capabilities for the designated organization to perform the work necessary to manage the business. As with many changes over the past several decades, monetary systems and funds being made available are beginning to diminish from the Federal government. The monies that are received, for example, by a fire department can be used to purchase apparatus, new firefighting clothing and protective equipment, and other provisions to support the public organization.
While looking at the budget from the federal, state, local, or community governments, consideration must be given to whether the monies being used and given to local entities are going to be used for economic growth. There will be disagreements concerning the appropriation of funds and fund management for the communities, but also for the main distributor-the federal government. The budget is the key focal point for public administration to function and make decisions. Monies that are received by public entities create a huge sense of power for those who shape the methods of how the monies are going to be spent. The upper management or executives must learn the conceptual framework that is used for budgeting, financing, and the allocation of those funds that have been received. Thus an accountant will be necessary for any good executive team within the organization. There are several different types of budgets that can be issued for an organization:.
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The document discusses Citizens' Guides to the Budget (CGB) which aim to increase fiscal transparency and public participation in budgeting. CGBs typically explain annual budget proposals and the economic context in a clear, non-technical way. They can strengthen accountability, buy-in for policies, and accessibility of fiscal information. The document outlines recommended contents of a CGB, including discussions of the economic outlook, spending and revenue plans, fiscal risks, and how the budget supports government objectives. It emphasizes presenting information in an engaging format with charts and making CGBs widely available.
how_a_citizens_guide_to the_budget_can_strengthen_fiscal_transparency_and_inc...
This document discusses how governments can publish "Citizens' Guides to the Budget" (CGB) to increase fiscal transparency and public participation. CGBs explain budget proposals and the economic context in a clear, non-technical way. They typically include information on revenues, expenditures, deficits, economic forecasts, the budget process, and how the budget supports government objectives. The document outlines key characteristics of effective CGBs, such as accessibility, timing with the annual budget cycle, and active dissemination through various formats. It emphasizes that CGBs can strengthen transparency by clarifying government roles and making fiscal information public, as promoted in the IMF's Code of Good Practices in Fiscal Transparency.
Topic 6-Budgeting and budgetary control in the public sector.pdf
Budgeting is an important process in public sector organizations for allocating scarce resources and evaluating performance. There are several approaches to budgeting such as incremental budgeting, programme budgeting, and zero-based budgeting. A medium-term expenditure framework is now widely used to link long-term priorities with annual budgets. The budget process involves formulation of guidelines, preparation of estimates, approval of the overall budget, and monitoring budget execution.
Public Budgeting Presentation
The document discusses public budgeting. It defines what a budget is, including that a budget is a plan for how tax revenues will be spent annually. It describes the Budget and Accounting Act of 1921, which created the Bureau of the Budget (now OMB) and GAO. OMB assists the president in budget preparation and analyzes funding requests. The budget cycle and types of budgets like capital, operating, line-item and performance budgets are covered. The document also discusses budget surpluses, deficits, and discretionary vs entitlement spending.
Ch 2
This chapter discusses the budget cycle process, which includes executive preparation, legislative approval, budget execution, and audit/evaluation phases. It identifies the key individuals involved in each phase, such as the chief executive who sets policy priorities, budget officers who analyze spending requests, and agency directors who submit budget justifications. The chapter also contrasts political versus technical approaches to defending a budget proposal and emphasizes presenting spending requests that align with organizational goals and priorities.
public expenditure
This document provides an overview of public budgets. It begins by defining what a budget is, including that it is a formal estimate of required resources for a given time period. It then discusses different definitions of budgets provided by various scholars. The document outlines the key components of a budget as public expenditures and public revenues. It also discusses different types of budgets, including operating and development budgets. The document further examines classifications of public expenditures by categories, sectors, general objects, and programs/activities. Finally, it introduces the concept of the canon of public expenditures as rules or principles that governments must follow when incurring expenditures.
Public Finance
Public finance deals with government revenue sources like taxes and expenditures on areas like infrastructure, education, and health. It aims to stabilize the economy, promote growth, and provide essential public goods. Government budgets classify spending into areas and sources of revenue like taxes. A budget deficit occurs when spending exceeds taxes, while a surplus exists when taxes are higher than spending. Deficit financing allows governments to fund spending by borrowing or money creation, but too much can crowd out private investment and cause inflation. Fiscal policy uses taxes and spending to influence employment, growth, and prices.
Public Budgeting and The Dynamics of Changing Budget Process
The document discusses the changing dynamics of public budgeting processes at the national, state, and local levels. It outlines several reforms to budgeting over time, including the 1921 Budget and Accounting Act, the Congressional Budget and Impoundment Control Act of 1974, and deficit control acts of 1986 and 1990. While reforms aim to better allocate resources and improve financial management, they also face weaknesses such as fiscal stress, revenue uncertainty, and erosion of accountability due to complexity. Overall, the budget process remains challenging due to issues like novelty, annual perspectives, and forecasting problems in changing environments.
budget 13-14
This document is a project report submitted by Hitesh M. Vekhande, a student of M.Com SEM-1 at Arts And Commerce College Wada, under the guidance of Dr. J.K.Kavtekar. The report analyzes the Union Budget of India for 2013-14 and includes sections on the meaning of a budget, the importance of budgets, budget types, an overview of the Union Budget 2013-14, budget estimates, and a conclusion. The document also includes declarations, certificates, acknowledgements and a bibliography.
Budget Tracking for CSOs in the Nigerian Health Sector
This document discusses budget tracking strategies for civil society organizations working in the health sector. It defines budget tracking as examining how public resources flow from one level of government to the next and eventually to intended beneficiaries. The document outlines why CSOs should track budgets and expenditures, such as to strengthen oversight, identify systemic transfer problems, and uncover mismanagement. It provides a 5-step approach to budget tracking advocacy: 1) develop a strategy, 2) build strategic alliances, 3) plan activities for each budget cycle stage, 4) manage communications, and 5) evaluate efforts. Finally, it states that tracking involves monitoring and investigating to carefully examine how funds move through different levels of government.
ECONOMIC COMMENTARY Number 2014-09May 8, 2014Why Do Econom.docx
ECONOMIC COMMENTARY Number 2014-09May 8, 2014
Why Do Economists Still Disagree over
Government Spending Multipliers?
Daniel Carroll
Public debate about the effects of government spending heated up after record-large stimulus packages were enacted
to address the fallout of the fi nancial crisis. Almost as noticeable as the discord was the absence of consensus among
prominent economists on the issue. While it seems a simple problem to estimate the effect of government spending on
output—the size of the government multiplier—it is anything but.
ISSN 0428-1276
Over the past several years, attention has focused on the
dangers of medium- and long-run imbalances in government
budgets. This was less the case at the beginning of the
recent fi nancial crisis, when the question was if and how the
government should try to stimulate the economy. But before
long, the debate surfaced. Some argued that the government
should prop up falling private demand with increased
spending. Others claimed that increased government
spending would have little to no stimulative effect in the
short run and that it might even be contractionary.
Economists could offer little in the way of clarifi cation, with
venerated scholars falling on both sides of the debate. This
failure of economists to agree on the issue leads some in
the public to suppose that economists are incompetent, or
perhaps worse, politically motivated.
The truth is that economists have struggled to answer
the question, “What effect does an increase in government
spending today have on output in the future?” In economics,
this effect is called the government spending multiplier,
and unfortunately for those of us who would like certainty
on the matter, there are major challenges associated with
measuring it. An appreciation for these challenges should
explain why competent scholars can hold widely different
opinions about the effect of government spending on output.
Measurement Challenges
Problems with measuring the government spending
multiplier begin at the outset—with the way the question
itself is phrased. At fi rst, it seems like a natural question,
but in fact it is far too general.
For starters, it is presumptuous to speak of “the”
government spending multiplier as if there is only one.
Because a change in government spending is likely to
infl uence output over multiple periods in the future, separate
multipliers could be created for each period. To calculate
the appropriate multiplier, should we look at how much
output changes one quarter in the future? One year? Five
years? There is no universally accepted answer. Some studies
report a collection of multipliers over a specifi c time period
(for example, a multiplier for each quarter up to three years).
Others average these numbers or report a range.
Taking a stand on timing is not suffi cient however. One
must also consider what type of government spending
is increased. Surely an increase in milita.
Similar to Chapter 13: The Lack of a Budgetary Theory (20)
Chapter 1 The Politics of Public BudgetsA public budget links ta
Chapter 1 The Politics of Public BudgetsA public budget links ta
Assessment 4 Study GuideCiting Shafritz, J. M., Russell, .docx
Assessment 4 Study GuideCiting Shafritz, J. M., Russell, .docx
A Role For Defined Contribution Plans In The Public Sector
A Role For Defined Contribution Plans In The Public Sector
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4472630 -how_a_citizens_guide_tothe_budget_can_strengthen_fiscal_transparenc...
how_a_citizens_guide_to the_budget_can_strengthen_fiscal_transparency_and_inc...
how_a_citizens_guide_to the_budget_can_strengthen_fiscal_transparency_and_inc...
Topic 6-Budgeting and budgetary control in the public sector.pdf
Topic 6-Budgeting and budgetary control in the public sector.pdf
Public Budgeting and The Dynamics of Changing Budget Process
Public Budgeting and The Dynamics of Changing Budget Process
Budget Tracking for CSOs in the Nigerian Health Sector
Budget Tracking for CSOs in the Nigerian Health Sector
ECONOMIC COMMENTARY Number 2014-09May 8, 2014Why Do Econom.docx
ECONOMIC COMMENTARY Number 2014-09May 8, 2014Why Do Econom.docx
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Chapter 13: The Lack of a Budgetary Theory
- 1. Kathleen Calvo September 08, 2012 PA-510
- 2. The Government is highly reflected on the planning and budgeting of the economy. Budget-makers plan for a specific accomplishment with the availability and uses of resources within a period of time; carrying out Government economic policy . It forecasts the allocation of expenditures in such that we ask: • On what basis shall it be decided to allocate x dollars to activity A instead of activity B?
- 4. Budget Makers face problems such as few revenues that meet the requests of all spending agencies and another Key addresses: • Gayer and Clark (Public Works- alternative projects not tackled)
- 5. “The completed budgetary document represents a judgment upon how scarce means should be allocated to bring the maximum return in social utility” V.O. Key, Jr. • What goods and services are to be distributed and where? • Are based on the government’s priorities at which the appropriation will be determined • If the quality of the document has supporting data the budget shall be allocated to the specific agency/department E.g. balancing public expenditures in all agencies involved (Hay Group Study)
- 6. Influence of pressure groups in determining allocation of funds are of political interests. The ‘value’ of public service is fruitless if the interest of the policy makers are not perceptible • E.g. Health Insurance Companies on Guam, Minimum Wage, etc.
- 7. Budgets involve • Public (Public Value and Implementation) • Politicians (Advantage in the Political Arena) • Economists (Consumer and Resources)
- 8. “As a larger and larger proportion of the national income is spent for public purposes, the sphere of the price system with its freedom of choice of objects of expenditure is more and more restricted.” e.g. Guam’s recent tax refund
- 9. We shouldn’t overlook the efficacy of Budget officials, they further the accountability and timely judgments for the interest of the public.