Research Overview
My research broadly explores the intersection of public finance and public management by investigating financial tools and techniques to better inform management, strategy, and policy decisions. Based on this approach, I have two research agendas: (1) the impacts of financial mangers’ decision-making on a government’s ability to manage its resources, and (2) the effects of imposed fiscal and economic constraints on a government’s ability to manage resources. My dissertation focuses on the management of financial uncertainties in the context of American local governments. My work is primarily concentrated on financial and strategic factors that motivate the use of short-term resources including unrestricted cash and short-term debt as well as imposed fiscal constraints which can impact the use of short-term resources.
Published
Buerger, C., & Lofton, M. L. The Interplay Between Fiscal Institutions and the Great Recession: Evidence from U.S. School Districts. American Educational Research Association Open, 9. doi.org/10.1177/23328584231189176
Buerger, C., Sandel, R. M., Reitano, V., Lofton, M. L., & Jones, P. (2021). Extending Differences-in-Differences Frameworks to Granger Equations: Evidence from Cutback Management During Three Recessions. International Journal of Public Sector Management, 34(6), 688-705. doi:10.1108/IJPSM-09-2020-0257
Kioko, S. N., & Lofton, M. L. (2021). Balanced Budget Requirements Revisited. Public Finance Review, 49(5), 635-672. doi:10.1177/10911421211054977
Lofton, M. L. (2021). The Impact of Excess Taxing Capacity on Short-Term Resources. Public Budgeting & Finance, 42(1), 3-27. doi:10.1111/pbaf.12286
Lofton, M. L. (2021). What Influences Working Capital Management? A Survey of New York Local Government Financial Officers. Municipal Finance Journal, 41(4), 61-86.
Lofton, M. L., & Ivonchyk, M. (2021). Financial Manager Professionalism and Use of Interfund Transfers: Evidence from Georgia Counties. Public Budgeting & Finance 42(2), 171-195. doi:10.1111/pbaf.12301
Lofton, M. L., & Kioko, S. N. (2021). The Use of Short-Term Debt By General Purpose Governments. Public Budgeting & Finance, 41(4), 71-93. doi:10.1111/pbaf.12285
Lofton, M. L., & Lueken, M. F. (2022). Distribution of Education Savings Account Usage among Families: Evidence from the Florida Gardiner Scholarship Program. Journal of School Choice. 1-26. doi: 10.1080/15582159.2022.2039434
Lozano-Rojas, F. A. & Lofton, M. L. A Structural Change in the Power to Tax: The COVID-19 Pandemic’s Impact on Sales Tax Collections Across Georgia Counties. Accepted and Forthcoming at the Municipal Finance Journal.
Yoon, N., & Lofton, M. L. (2022). Open for Economic Activities during the COVID-19 Pandemic: Factors Related to State Reopening Policies in a Federal Policy Vacuum. Public Performance & Management Review. doi:10.1080/15309576.2022.2116721
Under Review
Krause, G. A., & Lofton, M. L. Fiscal Opportunity Coupled with Political Willingness? Unpacking the Effects of TELs and Partisan Governments on Income Inequality in the American States, 1986-2020. Revise and Resubmit at Political Science Research and Methods.
Lofton, M. L. & Lozano-Rojas, F. A. Unintended Managerial and Governance Capacity Responses: The COVID-19 Pandemic’s Impact on Sales Tax Collections Across Georgia Counties. Revise and Resubmit at Global Public Policy and Governance for Special Issue Fiscal Governance and the Covid Pandemic.
Research in Progress
Lofton, M. L., & Choi, S. Y. Policy Influencers: Who Decided to Establish State Reopening Business Policies? Preparing for submission to The American Review of Public Administration.
Lozano-Rojas, F. A. & Lofton, M. L. The Inequality Implications of the Local Option Sales Tax (LOST): Evidence from Georgia Counties. Preparing for submission to Public Budgeting & Finance.
Lofton, M. L. & Kwon, D. The Use of Short-Term Debt by State Governments. Preparing for submission to Public Budgeting & Finance.
Selected Conference Presentations
Lofton, M. L. & Buerger, C. (2023). Precautionary Savings as a Countercyclical Fiscal Tool during the Great Recession. World Social Science Association Conference. Tempe, AZ.
Lofton, M. L., & Kwon, D. (2022). The Use of Short-Term Debt by State Governments. Association for Budgeting and Financial Management Conference. Miami, FL.
Buerger, C., & Lofton, M. L. (2022). Testing Countercyclical Fiscal Instruments: The Case of Budget Stabilization Funds and the Great Recession. Association for Budgeting and Financial Management Conference. Miami, FL.
Lozano-Rojas, F. A., & Lofton, M. L. (2022). The COVID-19 Pandemic as a Revenue Equalizer: Differential Sales Tax Collections Across Georgia Counties. Next-Gen Public Finance Conference. Atlanta, GA.
Lozano-Rojas, F. A., & Lofton, M. L. (2022). The Inequality Implications of the Local Option Sales Tax (LOST): Evidence from Georgia Counties. Association for Public Policy Analysis & Management Conference. Austin, TX.
Lozano-Rojas, F. A. & Lofton, M. L. (2021). The Inequality Implications of the Local Option Sales Tax (LOST): Evidence from Georgia Counties. Indiana University Public Administration Public Finance Workshop. Virtual Presentation.
Lozano-Rojas, F. A. & Lofton, M. L. (2021). Heterogenous Responses of Collections to Changes in Local Sales Taxes: Evidence from Georgia Local Governments. National Tax Association. Virtual Conference.
Lozano-Rojas, F. A. & Lofton, M. L. (2021). Heterogenous Responses of Collections to Changes in Local Sales Taxes: Evidence from Georgia Local Governments. Association for Budgeting and Financial Management Conference. Washington, D.C.
Burger, C. & Lofton, M. L. (2021). The Interplay Between Fiscal Institutions and the Great Recession: Evidence from U.S. School Districts. Association for Budgeting and Financial Management Conference. Washington, D.C.
Lofton, M. L. & Choi, S. Y. (2021). Policy Influencers: Who Decided to Establish State Reopening Business Policies? Public Management Research Conference. Virtual Conference.
Lozano-Rojas, F. A. & Lofton, M. L. (2021). The Inequality Implications of the Local Option Sales Tax (LOST): Evidence from Georgia Counties. Western Social Science Association. Virtual Conference.
Lofton, M. L. & Choi, S. Y. (2021). Policy Influencers: Who Decided to Establish State Reopening Business Policies? American Society for Public Administration. Virtual Conference.
Yoon, N., Lofton, M. L., & Brudney, J. L. (2021). Open for Business Activities During the COVID-19 Pandemic: Determinants of State Reopening Policies in a Federal Policy Vacuum. American Society for Public Administration. Virtual Conference.
Lofton, M. L., Lueken, M. F., & Burke, L. (2021). How Florida Families Use Their Educational Savings Accounts. International School Choice and Reform Conference. Virtual Conference.
Lofton, M. L. & Ivonchyk, M. (2019). Managerial Quality and Use of Interfund Transfers: Evidence from Georgia Counties. Association for Budgeting and Financial Management Conference. Washington, D.C.
Burger, C. & Lofton, M. L. (2019). The Impacts of the Great Recession on School District Finances. Association for Budgeting and Financial Management Conference. Washington, D.C.
Lofton, M. L. (2018). The Impact of Excess Taxing Capacity on Short-Term Resources. Association for Budgeting and Financial Management Conference. Denver, CO.
Lofton, M. L. (2017). The Impacts of a New Tax and Expenditure Limit on New York Local Government Finances. Association for Public Policy Analysis & Management. Chicago, IL.
Jones, P., Burger, C., Reitano, V., & Lofton, M. L. (2017). Have Stated Learned How to Use Budget Stabilization Funds to Reduce Fiscal Crises? Association for Budgeting and Financial Management Conference. Washington, DC.
Lofton, M. L. & Kioko, S. N. (2017). The Use of Short-Term Debt by General Purpose Governments. Western Social Science Association. San Francisco, CA.
Lofton, M. L. (2017). What Influences Working Capital Management. Western Social Science Association. San Francisco, CA.