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Newsletter
Measuring and Financing Infrastructure Investments
On November 3, 2014, the Federal Reserve Bank of Chicago held a conference to examine recent research on measuring the economic value of infrastructure investments and to explore new funding models for infrastructure in a time when many state and local governments face fiscal challenges.
Journal Article
Reversal of fortune: understanding the Midwest recovery
Has the Midwest been good or lucky in its recent recovery? In this article, the authors assess the internal and external factors that have contributed to the revival of midwestern economic fortunes over the last decade.
Newsletter
Local governments on the brink (Special Issue)
This article examines the likelihood of local governments defaulting on their debt or filing for bankruptcy. Despite the challenging fiscal environment today, the vast majority of local governments are not likely to do either, if history serves as a guide for the future.
Working Paper
Creating a national state rainy day fund: a modest proposal to improve future state fiscal performance
Throughout the 1990s states created budget stabilization (rainy day) funds to help provide counter-cyclical support in their budgeting process. Despite the sweeping popularity of such funds, many states have failed to adopt either contribution or expenditure rules that would create significant balances in their rainy day accounts.> This paper ask the question; what would happen if a national rainy day fund were established for the states with specific contribution and expenditure rules? The proposed fund would borrow from the unemployment compensation trust fund model by creating experience ...
Newsletter
Future state business tax reforms: a conference summary
On September 17, 2007, the Federal Reserve Bank of Chicago, Ernst & Young, and the Office of Tax Policy Research at the University of Michigan?s Ross School of Business brought together over 120 business people, academics, and public policymakers to examine the changing dynamics of state business taxation.
Newsletter
Can higher education foster economic growth?
On October 30, 2006, the Chicago Fed will host a conference on higher education?s role in economic growth. Speakers will include Richard Lester of MIT, Michael Luger of the University of North Carolina, Ned Hill of Cleveland State, Sean Safford of the University of Chicago Graduate School of Business, Larry Isaak of the Midwest Higher Education Compact, and Randy Eberts of the Upjohn Institute.