An Employment-Weighted Municipal Stock Index

2021 ◽  
Vol 16 (12) ◽  
pp. 11
Author(s):  
Chris Brune ◽  
James Files ◽  
Philip Rice
Keyword(s):  
Performance Measurement ◽  
Economic Performance ◽  
Stock Index ◽  
Economic Conditions ◽  
Stock Indices ◽  
Macroeconomic Indicators ◽  
Local Officials ◽  
State And Local ◽  
Local Levels ◽  
Fundamental Indexing

State and local officials are often tasked with policy decisions that are influenced by projections of future economic conditions. However, properly assessing and predicting local economic performance is challenging. Common macroeconomic indicators can be helpful, but additional tools are needed. Stock indices have traditionally been used in the investment community to evaluate performance. While a recent surge in fundamental indexing has led to a debate over performance measurement, other uses of fundamental indices have been largely ignored. We introduce an employment-weighted stock index as a supplement to traditional forecasting measures for policymakers at the state and local levels.

The Effects of Economic Performance on Infrastructure Spending at the State and Local Levels

2013 ◽  
Vol 8 (1) ◽  
pp. 330-349 ◽  
Author(s):  
Suho Bae
Keyword(s):  
Economic Development ◽  
Economic Performance ◽  
Service Provision ◽  
Local Governments ◽  
Infrastructure Investment ◽  
Knowledge Infrastructure ◽  
Economic Development And Growth ◽  
Physical Infrastructure ◽  
State And Local ◽  
Local Levels

AbstractEconomic development and growth may induce infrastructure investment and service provision by the public sector. This article investigates to what degree economic performance affects infrastructure spending at the state and local levels. For further elaboration, it examines the differential impacts of economic performance on state and local spending on different types of infrastructure. For that purpose, infrastructure is classified into two types: knowledge infrastructure and physical infrastructure. Methodologically, it uses the time-series cross-sectional (TSCS) data from 1977 to 2000 in 50 states of the USA. To correct the complex error terms in TSCS data, it uses the ordinary least square estimation using the Prais-Winsten procedure and panel-corrected standard errors. Some endogeneity issues are also corrected. Research finds that economic development and growth contributes to the increasing infrastructure spending on a per capita basis by state and local governments; however, its magnitude is not large. When infrastructure spending is disaggregated, economic performance also contributes to the increasing state and local spending on both knowledge and physical infrastructures. In particular, the magnitude of the positive effects on physical infrastructure spending is approximately two times as large as that on knowledge infrastructure spending. However, economic performance has no significant effects on the proportion of infrastructure spending out of the total state and local spending, regardless of whether infrastructure is aggregated or disaggregated. In short, there are level effects of economic performance, but there are no compositional effects. This finding implies that state and local governments increase infrastructure investment and its service provision in responding to the economic growth; yet, they do not consider it as a top priority in comparison with other types of functional areas.

scholarly journals Importance of Performance Measurement and MCH Epidemiology Leadership to Quality Improvement Initiatives at the National, State and Local Levels

2016 ◽  
Vol 20 (11) ◽  
pp. 2239-2246 ◽  
Author(s):  
Kristin M. Rankin ◽  
Loretta Gavin ◽  
John W. Moran ◽  
Charlan D. Kroelinger ◽  
Catherine J. Vladutiu ◽  
...  
Keyword(s):  
Quality Improvement ◽  
Performance Measurement ◽  
National State ◽  
State And Local ◽  
Mch Epidemiology ◽  
Local Levels

INITIATIVE BUDGETING AS AN INSTRUMENT OF TERRITORIAL SELF-GOVERNMENT

2019 ◽  
Vol 86 (3) ◽  
pp. 77-90
Author(s):  
V. V. Vagin ◽  
N. A. Shapovalova
Keyword(s):  
Local Government ◽  
Citizen Participation ◽  
Institutional Analysis ◽  
Institutional Development ◽  
Development Programs ◽  
Theoretical Understanding ◽  
State And Local Government ◽  
State And Local ◽  
Government Initiative ◽  
Local Levels

The article is devoted to the actual issue – institutional analysis of initiative budgeting and territorial public selfgovernment, as well as the possibility of their integration. Over the past few years, a system of civil participation in budget decisions has been built in Russia, the regulatory framework of practices has been created, thousands of employees of state and local government bodies have been trained, project centers have appeared for ensuring development of initiative budgeting. Citizen participation in budget decisions can significantly accelerate the development of the lower level of local government. Initiative budgeting is an innovative instrument of public finance and at the same time a social technology allowing for the real involvement of citizens in the issues of state and municipal governance. Initiative budgeting development programs make it possible to transfer financing of projects aimed at solving local issues with the participation of citizens onto a systemic basis. The results and materials of this study can serve a foundation for theoretical understanding of the institutional development of public finances at the regional and local levels. At the same time, this practical area that was intensively developing in recent years requires deep institutional analysis.

ANALISIS DIVERSIFIKASI INTERNASIONAL : PEMBENTUKAN PORTOFOLIO OPTIMAL INDEKS SAHAM DUNIA (Studi Kasus Pada Indeks Saham Aktif Dunia Versi The Wall Street Journal)

2019 ◽  
Vol 6 (02) ◽  
Author(s):  
Rony Mahendra ◽  
Erwin Dyah Astawinetu
Keyword(s):  
Wall Street Journal ◽  
Optimal Portfolio ◽  
Stock Index ◽  
Wall Street ◽  
Expected Return ◽  
Single Index ◽  
Index Model ◽  
Single Index Model ◽  
Stock Indices ◽  
The Wall Street Journal

The research objective is to establish an optimal portfolio and know the difference between risk and return stock index portfolio candidates and non-candidates. Method used in the preparation of this research portfolio is the single index model, while the samples of this study are active world stock indices version of The Wall Street Journal during the period August 2012 - August 2016 and The Global Dow is used as the benchmark stock index. In establishing the optimal portfolio is used two perspectives: the Rupiah perspective and the U.S. Dollar perspective. The results showed there were three stock indices from the perspective of Rupiah and 8 share index menurutperspektif U.S. Dollar that make up the optimal portfolio, with the cut-of-pointsebesar 0,01393menurut Rupiah perspective and the perspective of 0.0078 US Dollars Based on the perspective of return expectations Rupiah obtained by 0.0258 with a risk of 0.06512. Berdarkan perspective of US Dollars, obtained return expectations at 0.0154 with a risk of 0.0292. From the test results showed that the hypothesis, the return on both perspectives there are significant differences between the index of the candidate, with a non-candidate. Then the risk of stock index, among the candidates, with a non-candidate, the Rupiah perspective there is no difference, but in the perspective of US Dollars, there are significant differences.Keywords: Single Index Model, candidate portfolio, optimal portfolio, expected return, excess return to beta, cut-off-point

The State Price Density Implied by Crude Oil Futures and Option Prices

2021 ◽  
Author(s):  
Peter Christoffersen ◽  
Kris Jacobs ◽  
Xuhui (Nick) Pan
Keyword(s):  
The State ◽  
Stock Index ◽  
Economic Conditions ◽  
Option Prices ◽  
Oil Futures ◽  
State Price ◽  
Price Increases ◽  
Crude Oil Futures ◽  
State Price Density ◽  
Positive Return

Abstract Both large oil price increases and decreases are associated with deteriorating economic conditions. The projection of the state price density (SPD) onto oil returns estimated from oil futures and option prices displays a U-shaped pattern. Because investors assign high state prices to large negative and large positive oil returns, the U-shaped SPD may steepen in either tail when economic conditions deteriorate. The positive return region of the SPD is more closely related to economic conditions. The oil SPD contains information about economic conditions and future security returns that is distinct from the information in the stock index SPD.

ARNOVA's Symposium on Public Policy for Nonprofits

2011 ◽  
Vol 2 (1) ◽  
Author(s):  
Thomas Jeavons
Keyword(s):  
Public Policy ◽  
Nonprofit Organizations ◽  
Nonprofit Sector ◽  
Federal State ◽  
Voluntary Organizations ◽  
Public Charities ◽  
State And Local ◽  
The Impact ◽  
Local Levels

There are serious gaps in our knowledge and understanding of how public policy at the federal, state, and local levels affects the work of a wide array of nonprofit organizations. On October 4th and 5th, 2010, the Association for Research on Nonprofit Organizations and Voluntary Organizations (ARNOVA), with the support and encouragement of the Bill and Melinda Gates, Kresge and C.S. Mott foundations, convened a group of thirty nonprofit scholars and leaders to explore what we know about the impact of public policy on the nonprofit sector. The conference focused on how public policy helps or harms the ability of nonprofit organizations, particularly but not exclusively public charities, to fulfill their missions.

Economic Origins of Electoral Support for Authoritarian Successors

2007 ◽  
Vol 41 (3) ◽  
pp. 362-388 ◽  
Author(s):  
Byong-Kuen Jhee
Keyword(s):  
Economic Performance ◽  
Economic Voting ◽  
Authoritarian Regime ◽  
Economic Conditions ◽  
New Democracies ◽  
Democratic Transitions ◽  
Short Term ◽  
Knee Jerk ◽  
The Past ◽  
Electoral Support

This study explores how economic performance prior to democratic transitions affects the fate of successors to authoritarian rulers in new democracies. It investigates 70 founding election outcomes, finding that successful economic performance under an authoritarian regime increases the vote share of successors. It also finds that the past economic performance of authoritarian rulers decreases the likelihood of government alternation to democratic oppositions. Interim governments that initiate democratic transition, however, are neither blamed nor rewarded for economic conditions during transition periods. This study concludes that electorates are not myopic and that economic voting is not a knee-jerk reaction to short-term economic performance in new democracies.

Sign in / Sign up

Export Citation Format

Share Document