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Journal Article
Riding the revenue roller coaster: recent trends in state government finance

The fall in state tax revenue during the current recession and the one in 2001 highlights an increase in the variability of this source of revenue that has been observed over the past two decades or so. But states have sources of revenue other than taxes. However, while providing a relatively constant portion of total revenue over the past several years, these sources have generally not damped variability in state revenue arising from variability in taxes. Consequently, variation in state tax revenue remains an important issue for state government finances. In this article, Tim Schiller looks ...
Business Review , Issue Q1 , Pages 23-30

Journal Article
Upfront : Regional news at a glance.

Econ Focus , Volume 14 , Issue 2Q , Pages 2-4

Journal Article
Municipal finance in the face of falling property values

Economic Commentary , Issue Dec

Discussion Paper
State Revenues Hit Hard by COVID-19

The measures taken to slow the spread of COVID-19 have not only led to a sharp decline in employment and an unprecedented rise in unemployment but have negatively impacted state and local governments that depend on income and sales taxes as primary sources of revenue.
Regional Matters

Working Paper
Evaluating state tax revenue variability: a portfolio approach

State revenue variability is evaluated using a volatility model rooted in portfolio theory. The model evaluates how closely a state's revenue portfolio is constructed to minimize variability in total state tax revenue. The model complements parametric methods of revenue variability.
Working Papers , Paper 2006-008

How should suburbs help their central cities?

In this paper, we study the question whether suburbs should help finance the core public services of their central cities. We review three arguments that have been offered in favor of suburbs' fiscal assistance to their central cities. First, the central city provides public services that benefit suburban residents. Second, the central city may provide redistributive services to low-income central city residents that benefit suburbanites with redistributive preferences for such transfers. For efficiency, suburbanites should contribute toward such services in proportion to the benefits they ...
Staff Reports , Paper 186

Journal Article
Devolution: the new federalism, an overview

In recent years, a growing number of scholars and policymakers have concluded that the federal government has become too large and powerful, intruding into affairs better handled by states and municipalities. Based on this premise, they have argued for a reduction in federal aid, the conversion of matching grants to block grants, greater flexibility for states in implementing federally funded programs, and curtailment of federal mandates. Their program is popularly referred to as devolution, the devolving of federal responsibilities to lower levels of government. The controversy that ...
New England Economic Review , Issue May , Pages 1-12

Journal Article
Federal health care law promises coverage for all, but at a price

The Patient Protection and Affordable Care Act, better known as health care reform, was signed into law last March. The measure ostensibly provides health care coverage to almost all Americans while simultaneously reducing the deficit by $143 billion over 10 years and by a greater amount over the longer term.
Economic Letter , Volume 6

Journal Article
Reserve banks return more than $34 billion to Treasury

In 2007, the Federal Reserve System transferred more than $34 billion to the U.S. Treasury. This revenue represents most of the Reserve Banks' net income and came from a number of sources.
Financial Update , Volume 21 , Issue 1

Journal Article
Further base broadening: a possible source of tax revenues?

New England Economic Review , Issue Mar , Pages 33-45


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