HKS Affiliated Authors
Director of the Taubman Center for State and Local Government
Robert W. Scrivner Professor of Social Policy
Excerpt
Excerpt
Do Expiring Budgets Lead to Wasteful Year-End Spending? Evidence from Federal Procurement. Jeffrey Liebman, October 2013, Paper. "Many organizations have budgets that expire at the end of the fiscal year. Faced with uncertainty over future spending demands, these organizations have an incentive to build up a rainy day fund over the first part of the year. If demand does not materialize, they must rush to spend these resources on low quality projects at the end of the year. We test these predictions using data on procurement spending by the U.S. federal government..." Link verified June 19, 2014