Your browser is unsupported

We recommend using the latest version of IE11, Edge, Chrome, Firefox or Safari.

Research Project

Uncertainty, Risks, and Budgets in the Age of Coronavirus, by Michael Pagano and Christiana McFarland

Research Area(s)
Fiscal Policy and Financial Positions
Government Finance Research


In the research report, Uncertainty, Risks, and Budgets in the Age of Coronavirus, Michael A. Pagano, director of GFRC, and Christiana McFarland, director of research at the National League of Cities, present data on the state and local fiscal implications of the COVID-19 pandemic. Although they find that cities and states had been building up their reserves for the proverbial rainy day, the magnitude of the economic crisis will overwhelm those funds, requiring them to seek other options. They argue that the time for proposing policies at the margins is over, that non-incremental policies must be considered to address the current crisis and anticipate future challenges. Publisher: National League of Cities Published: June 2020 Read the full report here