Measuring and Managing Federal Financial Risk
Measuring and Managing Federal Financial Risk
A View from the Hill
There is clearly room for improvement in the measurement and management of the federal budget, generally, and in the management and reporting of financial risk, in particular. Improvements have been made over the years both through statute (e.g., the FCRA) and innovations by the scoring agencies (e.g., use of expected values), but more remains to be done. Some improvements may require the use of modern financial techniques—for example, greater use of risk-adjusted discount rates—but significant gains may also come from simpler changes (e.g., greater recognition of the time value of money).
Keywords: federal finance, financial risk, financial techniques, risk adjustment, discount rates, expected values
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