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Keywords:Municipal finance 

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
Designing formulas for distributing reductions in state aid

Local governments depend on state aid to provide residents and businesses with vital public services, such as education, police and fire protection, and safe public roads. However, in response to the recent fiscal crisis, many states are quickly and deeply cutting local aid. The Congressional Budget Office reported that 22 states reduced aid to local governments in FY 2010, and 20 states have proposed additional cuts in FY 2011. ; States tend to cut aid either on an ad hoc basis or across the board, with every community receiving the same percent aid cut. This paper proposes a new, more ...
New England Public Policy Center Working Paper , Paper 11-2

Journal Article
City property taxes: the effects of economic change and competitive pressures

New England Economic Review , Issue Jul , Pages 22-36

Journal Article
The changing level and mix of federal aid to state and local governments

New England Economic Review , Issue May , Pages 41-55

Impact of the Great Recession on public schools in the region

Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Speech , Paper 74

Journal Article
Improving intergovernmental finance: a message from the northland

Quarterly Review , Volume 11 , Issue Spr , Pages 2-13

Journal Article
A question of credit

The credit enhancement market is in flux, which leads to some navel gazing over municipal bond offerings
Fedgazette , Volume 20 , Issue Nov , Pages 9-10

Journal Article
The bonds of debt

The recent financial crisis blew a hole in the municipal bond market. But it has been shifting for more than a year.
Fedgazette , Volume 20 , Issue Nov , Pages 1-6

Journal Article
Auction-rate fireworks: Ooh, aah, ouch

Once a useful and sophisticated tool for cheap financing, issuers discover the dark side of more exotic bonds.
Fedgazette , Volume 20 , Issue Nov , Pages 7-8

Journal Article
The state of state and local government finance

This paper provides an overview of the state-local government sector, a review of the short-run impact of the 2007-09 recession on state and local governments, and a brief summary of key long-run challenges state and local governments will encounter in the next decade. State and local governments in aggregate represent about one-seventh of the U.S. economy, with education and welfare (mostly Medicaid) accounting for more than half. These governments currently face nearly unprecedented fiscal turmoil as a result of the recent recession. Even after the economy recovers, states and localities ...
Regional Economic Development , Issue Oct , Pages 4-22



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