Next we devised a fiscal-flexibility index, combining government debt and the budget deficit.The average of the monetary and fiscal measures produces our overall "wiggle-room index".
We then added up the scores to produce an overall measure of monetary manoeuvrability (rankings for the individual indicators can be found here).Next we devised a fiscal-flexibility index, combining government debt and the structural (ie, cyclically adjusted) budget deficit as a percentage of GDP.
The most energetic attempts to devise a countercyclical fiscal policy were made in Britain and Sweden.
Suffolk's bond rating was upgraded over the summer, while Nassau was recently told that it must devise a prudent fiscal plan to avoid a further downgrading of its bonds, which currently hover just two notches above junk-bond status.
The White House, whether Democratic or Republican, will need to work very closely with legislators to devise a package of fiscal reforms in the next term.
Aware of the feeling in these and other resource-rich regions, such as the Riau archipelago and East Kalimantan, the central government has devised a new fiscal deal, leaving richer regions a greater share of revenues.
The sensible thing, then, is to devise a plan for putting the nation's fiscal house in order, while waiting until a solid economic recovery is under way before wielding the ax.
It has led him to devise a litany of statist fiddles in energy, labour, financial services and other markets largely uninformed by the tight fiscal circumstances in which even a Labour government would find itself.
Once a fiscal emergency is declared, the city has one final chance to devise a plan, something Harrisburg has been incapable of doing because the Council and mayor are at odds.
As an assistant chief, Cummings helped devise a data-heavy, cost-cutting plan to trim LAFD resources to help cope with fiscal constraints caused by the economic downturn, a measure Garcetti supported when he was president of the City Council.
