This chapter is the general introduction and overview of the volume. The first section provides the motivation and rationales for this volume. The second section discusses some major issues and considerations of a tentative framework for empirical analyses of government budget stabilization at the local level. This discussion prepares readers of this volume for the chapters included. The issues discussed are intended to be the basis and raw material for use in other studies. The third section summarizes each of the following chapters as a quick overview of their components and major findings. The last section casts some prospective thoughts of the editor on what remains to be done and explored in these areas of research based on what has been provided in this volume.