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    <title>St. Louis Fed - Regional Economic Development</title>
    <link>http://research.stlouisfed.org/publications/red/</link>
    <description>Federal Reserve Bank of St. Louis Regional Economic Development</description>
    <language>en-us</language>
    <copyright>Copyright 2012 Federal Reserve Bank of St. Louis</copyright>

    <webMaster>webmaster@research.stlouisfed.org</webMaster>
    <pubDate>Mon, 04 Oct 2010 08:43:09 CDT</pubDate>
    <lastBuildDate>Mon, 04 Oct 2010 08:43:09 CDT</lastBuildDate>
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      <title>"The State of State and Local Government Finance", by Ronald C. Fisher</title>
      <link><![CDATA[http://research.stlouisfed.org/publications/red/article/8436?utm_source=rss&utm_medium-rss&utm_campaign=regional-economic-development]]></link>
      <description><![CDATA[This paper provides an overview of the state-local government sector, a review of the short-run impact of the 2007-09 recession on state and local governments, and a brief summary of key long-run challenges state and local governments will encounter in the next decade. State and local governments in aggregate represent about one-seventh of the U.S. economy, with education
and welfare (mostly Medicaid) accounting for more than half. These governments currently face nearly unprecedented fiscal turmoil as a result of the recent recession.]]></description>
      <pubDate>Mon, 04 Oct 2010 08:43:09 CDT</pubDate>
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      <title>"State Tax Revenue Growth and Volatility", by Gary C. Cornia and Ray D. Nelson</title>
      <link><![CDATA[http://research.stlouisfed.org/publications/red/article/8437?utm_source=rss&utm_medium-rss&utm_campaign=regional-economic-development]]></link>
      <description><![CDATA[Macroeconomic conditions and tax structures jointly determine the growth and volatility of state tax revenues. Since a variety of economic conditions exist among states, government policymakers
should carefully anticipate and consider the possible impacts of proposed tax reform and revenue enhancements on the long-term growth and volatility of their unique tax revenue portfolios. In the
short run, states generally cannot alter the volatility and growth rates of their economies.]]></description>
      <pubDate>Mon, 04 Oct 2010 08:43:09 CDT</pubDate>
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    <item>
      <title>"States in Fiscal Distress", by Robert P. Inman</title>
      <link><![CDATA[http://research.stlouisfed.org/publications/red/article/8439?utm_source=rss&utm_medium-rss&utm_campaign=regional-economic-development]]></link>
      <description><![CDATA[The 2007-10 recession has imposed significant fiscal hardships on state and local governments. The result has been state budget deficits and the need to increase state taxes, cut spending, and withdraw funds from state “rainy day” accounts. The primary cause of state budget “gaps” has been the rise in the level of state unemployment.]]></description>
      <pubDate>Mon, 04 Oct 2010 08:43:09 CDT</pubDate>
    </item>
    <item>
      <title>"Can State and Local Governments Rely on Alternative Tax Sources?", by William F. Fox</title>
      <link><![CDATA[http://research.stlouisfed.org/publications/red/article/8441?utm_source=rss&utm_medium-rss&utm_campaign=regional-economic-development]]></link>
      <description><![CDATA[State governments are much more likely than their local counterparts to depend on taxes other than sales, property, and personal income taxes. Excises on alcohol, beer, tobacco, gambling, and
business taxes are among the alternative taxes. Local governments, on the other hand, are more likely to impose user fees. Reliance on these alternative state tax sources in aggregate has diminished over the past several decades, despite a pattern of rate increases and new gambling alternatives.]]></description>
      <pubDate>Mon, 04 Oct 2010 08:43:09 CDT</pubDate>
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