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Keywords:Local finance 

Journal Article
Fully loaded: despite how they might prefer to operate, development professionals offer cache of incentives to remain competitive

The Region , Volume 12 , Issue Jul , Pages 1

Briefing
State government budgets and the Recovery Act

State and local governments, with revenues reduced sharply by the recession, are responding by cutting services, increasing tax rates, and drawing down reserves; they are also receiving some relief in the form of stimulus funds provided by the federal government. The stimulus funds legislated in the American Recovery and Reinvestment Act only partly offset the recession-induced shortfalls and are scheduled to phase out before most analysts believe state and local governments will see fiscal recovery well underway. Thus, observers are concerned that the state-local sector will create a ...
Public Policy Brief

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 ...
New England Public Policy Center Research Report , Paper 13-1

Working Paper
Output fluctuations and fiscal policy : U.S. state and local governments 1978-1994

What are the cyclical properties of U.S. state and local government fiscal policy? The budget surplus of local and, in particular, state governments is procyclical, smoothing disposable income and consumption of state residents. This happens over both short- and medium-term horizons. Procyclical surpluses are the result of strongly procyclical revenues, and weakly procyclical expenditures. The budgets of trust funds and utilities are procyclical. Federal grants are procyclical, exacerbating the cyclical amplitude of state level income movements; although they smooth the idiosyncratic ...
Research Working Paper , Paper 99-05

Working Paper
Fiscal amenities, school finance reform and the supply side of the Tiebout market

This study asks if local governments which provide a high level of public services per tax dollar attract housing capital. The first portion of the paper examines large shifts in property tax burdens induced by an unusual school finance reform in the state of New Hampshire. The estimates suggest that, in most of the state, communities with a reduced tax burden experience a large increase in residential construction. In the area of the state near the region's primary urban center (Boston), however, the shock clears through a price adjustment--i.e. by capitalizing into property values. The ...
Finance and Economics Discussion Series , Paper 2009-18

Working Paper
Measuring fiscal disparities across the U. S. states: a representative revenue system/representative expenditure system approach, fiscal year 2002

States and their local governments vary both in their needs to provide basic public services and in their abilities to raise revenues to pay for those services. A joint study by the Tax Policy Center and the New England Policy Center at the Federal Reserve Bank of Boston uses the Representative Revenue System (RRS) and the Representative Expenditure System (RES) frameworks to quantify these disparities across states by comparing each state?s revenue capacity, revenue effort, and necessary expenditures to the average capacity, effort, and need in states across the country for fiscal year 2002. ...
New England Public Policy Center Working Paper , Paper 06-2

Working Paper
Public investment and budget rules for state vs. local governments

Across different layers of the U.S. government there are surprisingly large differences in institutional provisions that impose fiscal discipline, such as constitutionally mandated deficit or debt limits, or specific tax bases. In this paper we develop a framework that can be used to quantitatively assess their costs and benefits. The model features both endogenous and exogenous mobility across jurisdictions, so we can evaluate whether the different degree of mobility at the local vs. national level can justify different institutional restrictions. In preliminary results, we show that pure ...
Working Paper Series , Paper WP-08-21

Journal Article
Effects of welfare reform on Western States

FRBSF Economic Letter

Journal Article
State-local business taxation and the benefits principle

This article advances the proposition that general business taxation should be structured to recover the costs of public services rendered to the business community. Estimates of one possible form of such a tax structure are offered for states of the Seventh District and for other U.S. regions.
Economic Perspectives , Volume 20 , Issue Jan

Journal Article
A toolbox of favors: a kitty of different business incentives gives local communities the wherewithal to close deals

The Region , Volume 12 , Issue Jul , Pages 2-3, 6

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