State tax revenues have become far more sensitive to changing economic conditions since the turn of the century. The authors document this increasing volatility and offer suggestions for what state governments might do to better manage their tax revenues to avoid or minimize dramatic fiscal...

On September 17, 2007, the Federal Reserve Bank of Chicago, Ernst & Young, and the Office of Tax Policy Research at the University of Michigan’s Ross School of Business brought together over 120 business people, academics, and public policymakers to examine the changing dynamics of state...

When it comes to state budgets, the Medicaid program is almost always the proverbial 800-pound gorilla in the room. On March 15, 2007, the Federal Reserve Bank of Chicago and the Civic Federation co-sponsored a forum to discuss the growing cost of Medicaid and how states are responding.

As growing numbers of their work force approach retirement age, state and local governments are taking a hard look at their pension funds to see if they are prepared for this exodus.> This one-day conference brought together policymakers and experts to weigh the state of these funds.

Like the economy in general, individual state economies are struggling in this recession. State governments face significant constraints in raising additional revenues. Most states are required to balance their budgets regardless of the economic environment. This article considers the role of...