Urban Institute-Brookings Institution Tax Policy Center and sponsored by the Lincoln Institute of Land Policy

Effects of the Housing Crisis on State and Local Governments

May 20-21, 2010
Urban Institute, 2100 M Street N.W., 5th Floor, Washington, D.C.

This conference will explore how state and local governments are responding to the severe budgetary shortfalls precipitated by the sharp decline in housing values and the subsequent economic downturn. Participants will discuss regional differences in housing market outcomes and economic activity, the adequacy of current tax systems, what housing foreclosures mean for children, and lessons from other countries.

To attend this event in Washington D.C., register here, email the Tax Policy Center at info@taxpolicycenter.org, or call 202-261-5554

Thursday, May 20

Session 1: Housing Market Declines: How Did We Get Here?

Moderator: Kim Rueben, Urban Institute

Forecasting House Prices at the State and National Level: Was the Housing Bust Predictable?
Yolanda Kodrzycki, Federal Reserve Bank of Boston
Robert K. Triest, Federal Reserve Bank of Boston
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Can Easy Credit Explain the Housing Bubble?
Edward L. Glaeser, Harvard University
Joshua Gottlieb, Harvard University
Joseph Gyourko, The Wharton School, University of Pennsylvania
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Recession, Recovery, and State and Local Finances
Donald J. Boyd, Nelson A. Rockefeller Institute of Government
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Session 2: What the Housing Crisis Means for States 

Moderator: Tracy Gordon, University of Maryland

State Government Response to Income Fluctuations: Consumption, Insurance, and Capital Expenses
Steven G. Craig, University of Houston
Edward Hoang, University of Memphis
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Earmarking and the Business Cycle: The Case of Higher Education Spending
Rachana Bhatt, Andrew Young School of Policy Studies, Georgia State University
Jonathan Rork, Andrew Young School of Policy Studies, Georgia State University
Mary Beth Walker, Andrew Young School of Policy Studies, Georgia State University
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The Impact of State Government Fiscal Crises on Vertical Fiscal Competition Between States and Local Governments
Howard A. Chernick, Hunter College, City University of New York
Andrew Reschovsky, Robert M. La Follette School of Public Affairs, University of Wisconsin
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Friday, May 21

Session 3: What the Downturn Means for Property Taxes and Local Governments

Moderator: Nicholas Johnson, Center on Budget and Policy Priorities

The Housing Crisis and State and Local Government Tax Revenue: Five Channels
Byron Lutz, Federal Reserve Board of Governors
Raven Molloy, Federal Reserve Board of Governors
Hui Shan, Federal Reserve Board of Governors
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Rethinking Local Government Reliance on the Property Tax
James Alm, Andrew Young School of Policy Studies, Georgia State University
David Sjoquist, Andrew Young School of Policy Studies, Georgia State University
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Shocks to the Property Tax Base and Implications for Local Public Finance
John E. Anderson, University of Nebraska
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Session 4: The Role of Fiscal Institutions: Examples from Three States

Moderator: Christopher Pece, Census of Governments

House Prices and Local Government Revenues
William M. Doerner, Florida State University
Keith R. Ihlanfeldt, Florida State University
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Property Tax Limitations and Local Fiscal Conditions: The Impact of Proposition 2½ in Massachusetts
Bruce Wallin, Northeastern University
Jeffery Zabel, Tufts University
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Causes and Consequences of Fiscal Stress in Michigan Municipal Governments
Mark Skidmore, Michigan State University
Eric Scorsone, Michigan Senate Fiscal Agency
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Session 5: What the Housing Crisis Means for Kids

Moderator: James A. Brooks, National League of Cities

Do Children Lose More than a Home? The Effects of Foreclosure on Children’s Education Outcomes
David Figlio, Northwestern University
Ashlyn Aiko Nelson, Indiana University
Stephen L. Ross, University of Connecticut
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The Foreclosure Crisis in Three Cities: Children, Schools, and Neighborhoods
Jennifer Comey, Urban Institute
Vicki Been, New York University School of Law
Ingrid Gould Ellen, Robert F. Wagner Graduate School of Public Service, New York University
Matthew Kachura, The Jacob France Institute, University of Baltimore
Amy Ellen Schwartz, Robert F. Wagner Graduate School of Public Service
Leanna Stiefel, Robert F. Wagner Graduate School of Public Service, New York University
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Session 6: International Experiences

Moderator: Sharon Cooley, Urban Institute

Extra-budget Spending, Infrastructure Investment, and Effects on City Revenue Structure: Evidence from China
Joyce Yanyun Man, Lincoln Institute of Land Policy
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Capitalization of Central Government Grants into Local House Prices: Panel Data Evidence from England
Christian A. L. Hilber, London School of Economics
Teemu Lyytikäinen, London School of Economics
Wouter Vermeulen, CPB Netherlands Bureau for Economic Policy Analysis
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