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...

Can electricity markets be successfully opened to competition? Events ranging from California's electricity crisis to the fall of electricity trading giant Enron have caused policymakers to reexamine the benefits of restructuring the industry. This article examines policy developments in the...

Tradable permit markets have become an increasingly popular tool to address environmental policy problems. This paper describes and evaluates the performance of the Regional Clean Air Incentives Market (RECLAIM) that started operating in Southern California at the beginning of 1994. In analysing...

Has the Midwest been good or lucky in its recent recovery? In this article, the authors assess the internal and external factors that have contributed to the revival of midwestern economic fortunes over the last decade.