Do Expiring Budgets Lead to Wasteful Year-End Spending? Evidence from Federal Procurement
研究美国联邦政府采购数据发现，财年末最后一周支出是平时周均的4.9倍，且年终IT项目质量评级显著更低，分析了允许机构结转未用资金的政策收益。
Many organizations have budgets that expire at the end of the fiscal year and may face incentives to rush to spend resources on low-quality projects at year's end. We test these predictions using data on procurement spending by the US federal government. Spending in the last week of the year is 4.9 times higher than the rest-of-the-year weekly average, and year-end information technology projects have substantially lower quality ratings. We also analyze the gains from allowing agencies to roll over unused funds into the next fiscal year.