Chapter

Introduction

Deborah Lucas

in Measuring and Managing Federal Financial Risk

Published by University of Chicago Press

Published in print April 2010 | ISBN: 9780226496580
Published online February 2013 | e-ISBN: 9780226496597 | DOI: http://dx.doi.org/10.7208/chicago/9780226496597.003.0001
Introduction

More Like This

Show all results sharing this subject:

  • Econometrics and Mathematical Economics

GO

Show Summary Details

Preview

Despite the size and importance of federal involvement in financial markets, the costs and risks of most federal financial activities are only partially measured and are poorly understood. In important respects (e.g., the absence of capital budgets, risk adjustment, and sophisticated internal costing systems), federal accounting for financial risk and value lags well behind private-sector standards. The political process provides few incentives for improving disclosures. Also, with a few notable exceptions, academics have devoted relatively little attention to improving the measurements of federal financial costs and risks. Programmatic complexity and the difficulty of obtaining data from federal agencies create substantial barriers to entry for researchers, and the topic has remained outside of the mainstream of economic inquiry. Filling these gaps is extremely important.

Keywords: financial market; federal accounting; financial risk; political process; federal agencies; costing system

Chapter.  5433 words. 

Subjects: Econometrics and Mathematical Economics

Full text: subscription required

How to subscribe Recommend to my Librarian

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.