Shaping the Great Lakes economy: a conference summary
The state of the state and local government sector: fiscal issues in the Seventh District
This article reviews the state and local budget situation, particularly in the states of the Seventh Federal Reserve Districts (Illinois, Indiana, Iowa, Michigan, and Wisconsin). These states have pursued different fiscal policies over the last decade and have relied on different tax structures to pay for government, yet all are facing significant budget shortfalls.
Challenges and prospects for Midwest manufacturing
The Chicago Fed held a series of conferences in 2003?04 aimed at understanding the recent poor performance of the manufacturing sector in the Midwest and the nation and identifying the challenges that lie ahead.
Issues facing state and local government pensions
In the U.S., there are nearly 14 million state and local government workers and six million retirees who are owed more than $2.3 trillion dollars in eventual pension payouts by more than 2,000 different governments. The author discusses the current condition of state and local pension plans, as well as the strategies that are being used to help meet pension obligations.
Sin Taxes: The Sobering Fiscal Reality
On April 2, 2015, the Federal Reserve Bank of Chicago and the Civic Federation held a forum to examine the use and efficacy of so-called sin taxes (e.g., taxes on alcohol, tobacco and gambling) levied by state and local governments.
Do colleges and universities have a role in local and regional economic development?
It has become almost hackneyed to suggest that we now live in a knowledgebased economy. Firms prosper and die based on their ability to add intellectual value to their products and services. Even in mature industries, such as manufacturing, the application of knowledge to enhance production techniques and increase productivity has been fundamental to competitive success. With the pace of economic change accelerating, economic development strategies that emphasize having the best human capital available to adapt to change continue to gain favor. Noted economist Edward Glaesser has demonstrated ...
Can higher education foster economic growth?—a conference summary
While higher education is being asked to perform more roles in the local economy, specific pathways for influencing local and regional economic transformation are still being identified. On October 30, 2006, the Federal Reserve Bank of Chicago and the Midwest Higher Education Compact held a conference on higher education and economic growth.