Impact of the Great Recession on public schools in the region
Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Dedicated taxes and rent capture by public employees
A test of whether the enactment of a dedicated tax leads to higher payroll and wages for public employees, by means of survey results from the local mass-transit industry.
Municipal finance in the face of falling property values
The effect of state fiscal reform on population heterogeneity
This paper tests whether state fiscal policy alters neighborhood income homogeneity. One implication of the Tiebout model is that within-community homogeneity declines as a result of an exogenous decrease in the ability of jurisdictions to set local tax and expenditure levels. The Property tax revolt and the school finance equalization reform of the 1970s and 1980s offer a test of the role of state fiscal reform on aggregate population sorting behavior. The results show that fiscal reform, especially tax and expenditure limitation laws and property tax reform, results in a small but ...
Municipal budget surpluses
The quest for cost-efficient local government in New England: what role for regional consolidation?
In the aftermath of the Great Recession, many local governments have experienced significant financial strain. Local governments? financial challenges are likely to continue in the foreseeable future, as federal deficit-reducing measures trigger cuts in state and local aid and as all levels of government struggle to fund their medical and retirement obligations. In an effort to maintain service provision without significant tax increases, many cities and towns will be forced to consider a variety of cost-cutting measures, including joint service provision with other localities. ; This ...
Instruments of the money market
City hall's capital spending
A question of credit
The credit enhancement market is in flux, which leads to some navel gazing over municipal bond offerings
Estimating the relationship between local, public and private investment
A discussion of whether public outlays influence private investment, modeling the timing and effectiveness of public infrastructure as a local policy instrument.