Empirical Studies in Public Finance and Financial Economics
{'Code': '04050100', 'Directorate': {'Abbreviation': 'SBE', 'LongName': 'Direct For Social, Behav & Economic Scie'}, 'Division': {'Abbreviation': 'SES', 'LongName': 'Divn Of Social and Economic Sciences'}}
{'SignBlockName': 'Lynn A. Pollnow', 'PO_EMAI': None, 'PO_PHON': None}
This study involves two projects.  The first is to investigate the              effects of state budgeting procedures on capital and operating                  expenditures.  The object is to examine the issue of whether the level          of public spending on capital projects such as highways, schools, etc.          is influenced by capital budgeting procedures used by some state                governments.  Expenditure data by state will be analyzed statistically          to determine the effect of capital budgeting on the level and type of           public capital investments.  The other project is in the area of                financial economics and is aimed at discovering what factors may                account for the variation of stock prices.  Traditional theory and              models do not adequately explain why the stock market seems to be               becoming more volatile as evidenced by the recent stock market crash.           Vector autoregression techniques will be used to analyze price                  volatility.  Particular attention will be paid to the role that news,           such announced changes in interest rates or the reporting of trade or           budget deficits, may play in affecting market volatility.                                                                                                       Whether or not the federal government should adopt the use of a capital         budget has been a long standing issue in public finance, which in               recent years has come to the forefront because of concerns over                 deteriorating infrastructure and over the federal budget deficit.  It           is not clear at all whether the adoption of a dual budget system would          affect the level or pattern of federal spending.  This project should           shed some light on that issue.  The research on stock price volatility          may identify new sources of that volatility and suggest ways the market         may be made less volatile and more efficient for raising investment             capital.
{'FirstName': 'James', 'LastName': 'Poterba', 'PI_MID_INIT': 'M', 'PI_SUFX_NAME': None, 'PI_FULL_NAME': 'James M Poterba', 'EmailAddress': 'poterba@mit.edu', 'NSF_ID': '000213169', 'StartDate': '07/15/1988', 'EndDate': None, 'RoleCode': 'Principal Investigator'}
{'Name': 'National Bureau of Economic Research Inc', 'CityName': 'CAMBRIDGE', 'ZipCode': '021385359', 'PhoneNumber': '6178683900', 'StreetAddress': '1050 MASSACHUSETTS AVE', 'StreetAddress2': None, 'CountryName': 'United States', 'StateName': 'Massachusetts', 'StateCode': 'MA', 'CONGRESSDISTRICT': '05', 'CONGRESS_DISTRICT_ORG': 'MA05', 'ORG_UEI_NUM': 'GT28BRBA2Q49', 'ORG_LGL_BUS_NAME': 'NATIONAL BUREAU OF ECONOMIC RESEARCH INC', 'ORG_PRNT_UEI_NUM': None}
{'Name': None, 'CityName': None, 'StateCode': None, 'ZipCode': None, 'StreetAddress': None, 'CountryCode': None, 'CountryName': None, 'StateName': None, 'CountryFlag': None, 'CONGRESSDISTRICT': None, 'CONGRESS_DISTRICT_PERF': '""'}
{'Code': '1320', 'Text': 'Economics'}
{'url': 'https://www.nsf.gov/awardsearch/download?DownloadFileName=1988&All=true', 'xml': '8809805.xml'}