State-local tax policies to encourage growth and development have been roundly criticized as detrimental to social welfare. In response, recent proposals have included delimiting the ability of states and localities to fashion tax policies. Not only are such proposals unworkable, but they fail...

This article summarizes the proceedings of a conference on state and local finance issues held under the auspices of Taxation, Resources, and Economic Development (TRED) during October 1991.

This chapter discusses the class of goods that has come to be known as public goods or collective goods. A distinctive characteristic of such goods is that they are not used up in the process of being consumed or utilized as an input in a production process. To be considered public, a good must...

Drawing from both the professional literature and from a conference held at the Federal Reserve Bank of Chicago in 2004, the author summarizes findings and draws implications concerning the locational tendencies of stand-alone headquarters operations. In the United States, the geography of large...

By distinguishing industrial R&D from manufacturing production, this study identifies a local economy's comparative advantage by activity rather than by product. The Chicago area's comparative advantage has shifted away from production and toward R&D activity during the 1976 to 1985 period....