Cases in International Public Finance

This book is intended to be used as a supplemental text in courses on international public finance at both the undergraduate and graduate levels. This book is written in a case analysis format focused on the U.S. federal government. Four government agencies are presented in various chapters. These four agencies, in order of coverage, are: Department of Defense, Department of State, U.S. Agency for International Development and the Department of Commerce. In all cases, the authors examined what, if anything, these agencies do to mitigate their exchange-rate exposure. The net result of the textbook is that the U.S. federal government does not take active steps to hedge against currency fluctuations. In this regard, public sector agencies have a long way to go in comparison to their private sector counterparts.