Search Results
Report
Small steps in the right direction?: restructuring public education
When the term "knowledge-based economy" first entered popular discussion - sometime around the early 1980s - the focus was exclusively on scientific, technological, and business leadership. Only gradually did our society come to appreciate the pervasiveness of the knowledge-based economy. It affects not just the demand for high-level technical and entrepreneurial talent but, indeed, the job requirements for virtually all types of work. This growing realization has laid the foundation for broad-scale reforms of education in the United States and many other nations.
Report
Lessons from resurgent cities
In 2008, the Federal Reserve Bank of Boston began a project to help reinvigorate the city of Springfield, Massachusetts. This cross-departmental initiative uses the Boston Fed's research and convening capabilities to complement the efforts of other organizations dedicated to improving economic and social conditions in New England's fourth-largest city. As noted in an earlier joint Federal Reserve-Brookings Institution study, Springfield has one of the highest rates of concentrated poverty in the country: one-third of the city's poor live in neighborhoods where poverty rates exceed 40 percent. ...
Briefing
Saving costs through regional consolidation: public safety answering points in Massachusetts
As local governments seek to address growing financial challenges, many will consider a variety of cost-cutting measures, including joint service provision with other localities. This policy brief examines the potential savings from large-scale service-sharing arrangements, using the specific example of emergency call handling and dispatch in Massachusetts. The analysis finds that consolidation can significantly reduce costs, and recommends that state policymakers consider options to encourage local consolidation. ; This policy brief builds on the Center?s 2013 research report, ?The Quest for ...
Conference Paper
Education in the 21st century: meeting the challenges of a changing world - a conference sponsored by the Federal Reserve Bank of Boston
During the twentieth century, the United States was a leader in raising the educational attainment of its population. This important achievement contributed to national productivity growth and extended economic opportunity to formerly disadvantaged groups in society. Now, at the beginning of the twenty-first century, U.S. institutions of higher learning retain an excellent reputation for quality. Less confidence exists, however, in our educational system's ability to meet broad economic and social objectives adequately. This uncertainty stems in part from the shifting global economy and the ...
Conference Paper
Educational attainment as a constraint on economic growth and social progress
Unless new policies offset the effects of existing demographic and educational patterns, improvements in labor quality are likely to contribute less to economic growth in the United States in the coming two decades than has been the case since the 1960s. The key reasons for this projection are the relatively slow increase in years of schooling obtained by young adults and the relatively low share of the population in the age group when labor market entry typically occurs. Furthermore, international test scores indicate a continuing mediocre performance for U.S. students on average. These ...
Report
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 ...
Report
The Bank of North Dakota: a model for Massachusetts and other states?
In 2010, Massachusetts legislators considered whether to create a state-owned bank as a means to address concerns about credit availability and other economic challenges stemming from the financial crisis and Great Recession of 2007-09. In 2011 a commission was established to investigate the feasibility of setting up such an institution. This research report informs the work of that commission. ; The report provides an in-depth examination of the only state-owned bank in the nation, the Bank of North Dakota (BND). It discusses BND?s history and current operations, and analyzes the degree to ...
Report
Achieving greater fiscal stability: guidance for the New England states
This report considers the New England states? past preparedness for revenue downturns caused by business cycle fluctuations and assesses policy actions that could promote greater fiscal stability in the future.
Working Paper
Does Springfield receive its fair share of municipal aid? : implications for aid formula reform in Massachusetts
This paper examines the distribution of unrestricted municipal aid in Massachusetts, which has been a major concern to civic leaders and elected officials of many communities, including Springfield. The paper develops a measure of the municipal fiscal gap indicating the relative need of municipalities for state aid. The analysis shows that in recent years, unrestricted municipal aid has not been distributed in proportion to the gap measure among the 10 largest cities in Massachusetts. For example, despite having the largest municipal gap, Springfield received almost the lowest per capita ...
Journal Article
Tax reform in newly emerging market economies
Unlike the American Revolution, which started with cries of "no taxation without representation," the overthrow of political and economic systems in Central and Eastern Europe did not have taxes at its forefront. Under socialism, taxes had been invisible to much of the population. They were part of an elaborate framework of central planning, rather than a separate, distinguishable element in the lives of typical citizens. ; This article examines how tax structures have fared in the context of broader changes in Central and Eastern Europe. It investigates the extent to which these tax ...