The fall in property values associated with the recent recession has caused a decline in property taxes which may be amplifying local government budget crises across the country.
Countries with flexible institutions and labor market policies, like the U.S., experienced increases in unemployment over the course of the Great Recession, while those with relatively rigid institutions and strict labor market policies fared better.
This publication is a compilation of research published by the Federal Reserve Bank of Cleveland on housing markets that are experiencing foreclosure and/or a large number of vacant properties, including a policy white paper released May 2013...
Federal Reserve Bank of Cleveland economists examine the many forces that will determine how “great” the most recent recession turns out to be. Find the articles, plus our interview with economic historian Price Fishback, in the fall 2011 issue of Forefront.