Header Image for Print

Economic Analysis Of Effects Of Business Cycles On The Economy Of Cities: Business Cycles And The Fiscal Health Of State And Local Governments


Authors:   

Release Date: 
September 1984 (83 Pages)
Posted Date:   
February 7, 2012



It is clear that the business cycle has a pronounced effect on the financial health of some state and local governments, as well as on the level of savings in the entire state and local government sector. Indeed, it was the severity of the 1975 recession that pushed New York City over the edge and brought many other local governments and at least one state dangerously close to fiscal insolvency. The more recent recession did not produce disasters of this same magnitude, though the fiscal position of some state and local governments deteriorated. In both recoveries, the substantial surpluses accumulated by the state and local government sector as a whole have attracted much attention.


This report is part of the collection of scanned historical documents available to the public.

Most Recent Publications



Note: Guidance documents, except when based on statutory or regulatory authority or law, do not have the force and effect of law and are not meant to bind the public in any way. Guidance documents are intended only to provide clarity to the public regarding existing requirements under the law or agency policies.