This article discusses schools as the primary unit of accountability and how school performance is measured and examines whether school-based accountability and incentive programs increase student achievement and how they impact the behavior of principals.

When applied to North Carolina and Massachusetts state income tax structures, a portfolio choice model points to the dominance of income taxes in the optimal portfolios of each state and large differences in progressivity, trade-offs, and stability.

Equalizing aid can be used by the federal government to equalize fiscal outcomes or resources among subnational governments or by states to equalize outcomes or resources among local governments. The primary focus of this paper is on financial equity.

Investigates the simultaneous relationship between tax rates and city property tax bases using data for 86 large U.S. cities in 1972, 1977, and 1982.

Explains the measures of city fiscal condition and of state and federal assistance to cities. Presents a model of state assistance to cities and tests it using data for 70 major central cities in 1982.

Provides evidence on several policy issues about state aid to local governments. Focuses on changes in, rather than levels of, state aid.