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Newsletter
Measuring community college performance
In this article, the authors propose a framework for analyzing the outcomes from community college programs as a starting point for a larger discussion on the optimal distribution of resources across the multiple missions of community colleges.
Newsletter
Chicago’s Fiscal Future: Growth or Insolvency? A Conference Summary
The intersection between poor fiscal conditions facing Chicago and the prospects for business development was the subject of a conference cosponsored by the Federal Reserve Bank of Chicago and the Civic Federation on April 19, 2017. Specifically, the program focused on whether municipal bankruptcy is an appropriate mechanism for addressing extreme fiscal stress and the impact such an action might have on key Chicago industries, particularly those characterized by rapid recent growth.
Working Paper
Revenue bubbles and structural deficits: What’s a state to do?
The 2001 recession proved alarming to state government finances. A relatively shallow national recession led to a severe downturn in state revenues that took three years to unwind. In the current economic downturn, early signs of fiscal stress are already apparent. This raises several fundamental questions: * Since 1984 the U.S. macroeconomy entered into the "Great Moderation" in which economic volatility was reduced. Has state revenue volatility relative to the business cycle increased during this period? * Has the composition of state revenues and expenditures made states more susceptible ...
Newsletter
Assessing the Midwest flood
Newsletter
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.
Newsletter
Charting Illinois’s fiscal future
The state of Illinois has been facing a precarious fiscal situation for the past several years. According to the Civic Committee of the Commercial Club, Illinois has accumulated over $120 billion in total indebtedness. This works out to nearly $25,000 per household. Even in the short run, Illinois faces a budget deficit in excess of $11 billion in the next budget year.
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.
Newsletter
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.
