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Therese McGuire
Therese McGuire

MANAGEMENT & STRATEGY; REAL ESTATE MANAGEMENT; SOCIAL ENTERPRISE
ConAgra Foods Research Professorship in Strategic Management
Director, Guthrie Center for Real Estate Research and Real Estate Management Program

Print Overview
Therese J. McGuire is Professor of Management and Strategy at Kellogg, and the Director of the Guthrie Center for Real Estate Research and the Real Estate Management Program. McGuire’s areas of expertise are state and local public finance, fiscal decentralization, property tax limitations, education finance, and regional economic development. She has written about and worked with various governments on state tax reform and on the impact of taxes on economic growth. In 1989 McGuire worked with a blue-ribbon commission and directed a study of revenues and expenditures for the State of Arizona. McGuire was President of the National Tax Association in 1999-2000, as well as the editor of the NTA's academic journal, the National Tax Journal from 2001 until 2009. Her publications have appeared in the National Tax Journal, the Journal of Regional Science, the Journal of Urban Economics, and the Journal of Public Economics. McGuire has a Ph.D. in Economics from Princeton University.

Areas of Expertise
Development Economics
Public Finance
Public Management
Public Policy
Real Estate
Urban Development and Economics
  • Recent Media Coverage

    Chicago Sun-Times: Property tax reforms needed: clarity, relief - 11/7/2009

    Medill Reports: Manufacturing Council advises Commerce Secretary on stimulating industry - 10/1/2009

    See all Kellogg in the Media
Print Vita
Education
PhD, 1983, Economics, Princeton University
BA, 1978, Economics, Mathematics, University of Nebraska-Lincoln, Phi Beta Kappa

Academic Positions
Director, Kellogg School of Management, Northwestern University
Professor, Kellogg School of Management, Northwestern University
Department Chair, Kellogg School of Management, Northwestern University
Faculty Fellow, Institute for Policy Research, Northwestern University

 
Print Research
Research Interests
State and local public finance, fiscal decentralization, property taxes, education finance, regional economic development, tax incentives

Articles
McGuire, Therese and Kim S. Rueben. 2006. The Colorado Revenue Limit: The Economic Effects of TABOR. State Tax Notes. 40(6): 459.
Dye, Richard F., Therese McGuire and Daniel McMillen. 2005. Are Property Tax Limitations More Binding over Time?. National Tax Journal. 58(2): 215-225.
Abstract
Dye, Richard F. and Therese McGuire. 2005. Illinois's Individual Income Tax and General Sales Tax: Options for Reform. State Tax Notes. 38(5): 371-.
Garcia-Mila, Teresa and Therese McGuire. 2004. Solidarity and Fiscal Decentralization. Proceedings National Tax Association 96th Annual Conference on Taxation.: 152-156.
Dye, Richard F., J. Fred Giertz and Therese McGuire. 2003. An Analysis of Illinois State Business Tax Provisions. State Tax Notes. 28(8): 725-735.
McGuire, Therese. 2003. Do Taxes Matter? Yes, No, Maybe So. State Tax Notes. 28(10): 885-890.
McGuire, Therese and C. Eugene Steuerle. 2003. State Fiscal Crises: Causes, Consequences, Solutions. State Tax Notes. 30(5)
Garcia-Mila, Teresa and Therese McGuire. 2002. Tax Incentives and the City. Brookings-Wharton Papers on Urban Affairs.
Abstract
Garcia-Mila, Teresa and Therese McGuire. 2001. Do Interregional Transfers Improve the Economic Performance of Poor Regions? The Case of Spain. International Tax and Public Finance. 8(3): 281-296.
Dye, Richard F., Therese McGuire and David F. Merriman. 2001. The Impact of Property Taxes and Property Tax Classification on Business Activity in the Chicago Metropolitan Area. Journal of Regional Science. 41(4): 757-777.
Mark, Stephen T., Therese McGuire and Leslie E. Papke. 2000. The Influence of Taxes on Employment and Population Growth: Evidence from the Washington D.C. Metropolitan Area. National Tax Journal. 53(1): 105-123.
McGuire, Therese. 1999. Proposition 13 and Its Offspring: For Good or for Evil?. National Tax Journal. 52(1): 129-138.
AbstractLink
Garcia-Mila, Teresa and Therese McGuire. 1998. A Note on the Shift to a Service-Based Economy and the Consequences for Regional Growth. Journal of Regional Science. 38(2): 353-363.
Abstract
Downes, Thomas A., Richard F. Dye and Therese McGuire. 1998. Do Limits Matter? Evidence on the Effects of Tax Limitation on Student Performance. Journal of Urban Economics. 43(3): 401-417.
AbstractLink
Mark, Stephen T., David F. Merriman and Therese McGuire. 1998. Ivory Tower Meets Smoke-filled Back Rooms of Politics: An Academic Perspective on Illinois. Public Budgeting and Finance. 18(4): 22-35.
Abstract
Crihfield, John B. and Therese McGuire. 1997. Infrastructure, Economic Development, and Public Policy. Regional Science and Urban Economics. 27(2): 113-116.
Link
McGuire, Therese. 1997. The Effect of Property Tax Limitation Measures on Local Government Fiscal Behavior. Journal of Public Economics. 66(3): 469-487.
McGuire, Therese. 1993. Industrial Mix as a Factor in the Growth and Variability of States' Economies. Regional Science and Urban Economics. 23(6): 731-748.
AbstractLink
Dye, Richard F. and Therese McGuire. 1992. Sorting Out State Expenditure Pressures. National Tax Journal. 45(3): 315-329.
AbstractLink
McGuire, Therese. 1992. The Contribution of Publicly Provided Inputs to States' Economies. Regional Science and Urban Economics. 22(2): 229-241.
AbstractLink
Dye, Richard F. and Therese McGuire. 1992. The Effect of Earmarked Revenues on the Level and Composition of Expenditures. Public Finance Review. 20(4): 543-556.
AbstractLink
Hughes, Mark Alan and Therese McGuire. 1991. A Market for Exclusion: Trading Low-Income Housing Obligations Under Mount Laurel III. Journal of Urban Economics. 29(2): 207-217.
Link
Dye, Richard F. and Therese McGuire. 1991. Growth and Variability of State Individual Income and General Sales Taxes. National Tax Journal. 44(1): 55-66.
AbstractLink
McGuire, Therese. 1991. State and Local Tax Reform for the 1990s: Implications from Arizona. Journal of Policy Analysis and Management. 10(1): 64-77.
AbstractLink
McGuire, Therese. 1987. The Effect of New Firm Locations on Local Property Taxes. Journal of Urban Economics. 22(2): 223-229.
Link
McGuire, Therese. 1986. Interstate Tax Differentials, Tax Competition, and Tax Policy. National Tax Journal. 39(3): 367-373.
Abstract
McGuire, Therese. 1985. Are Local Property Taxes Important in the Intrametropolitan Location Decisions of Firms?. Journal of Urban Economics. 18(2): 226-234.
Link
Wasylenko, Michael and Therese McGuire. 1985. Jobs and Taxes: The Effect of the Business Climate on States' Employment Growth Rates. National Tax Journal. 38(4): 497-511.
Abstract
McGuire, Therese. 1983. Firm Location in a Tiebout world. Journal of Regional Science. 23(2): 211-222.
Blattberg, Robert and Therese McGuire. 1967. Copper Prices: a Study in Guidepost Policy. California Management Review. 9(4): 27-34.
Abstract
Working Papers
Calsamiglia, Xavier, Teresa Garcia-Mila and Therese McGuire. 2008. Why Do Differences in the Degree of Fiscal Decentralization Endure?.
McGuire, Therese, Robert H. Porter. 1996. The Effect of Public Capital in State-Level Production Functions Reconsidered.
AbstractLink
Book Chapters
McGuire, Therese and Leslie E. Papke. 2008. "Local Funding of Schools: The Property Tax and Its Alternatives." In Handbook of Research in Education Finance and Policy, edited by Helen F. Ladd and Edward B. Fiske, New York, NY: Routledge.
McGuire, Therese and Teresa Garcia-Mila. 2008. "Public Infrastructure." In The New Palgrave Dictionary of Economics, edited by Lawrence Palgrave and Steve Durlauf, London: Palgrave Macmillan, 2nd Edition.
Garcia-Mila, Teresa and Therese McGuire. 2007. "Fiscal Decentralization in Spain: An Asymmetric Transition to Democracy." In Fiscal Fragmentation in Decentralized Countries: Subsidiarity, Solidarity and Asymmetry, edited by Richard M. Bird, Robert D. Ebel, Edward Elgar Publishing.
McGuire, Therese and David F. Merriman. 2006. "State Spending on Social Assistance Programs Over the Business Cycle." In Working and Poor, edited by Rebecca Blank, Sheldon Danziger, Robert Schoeni, New York, NY: Russell Sage Foundation.
McGuire, Therese. 2001. "Alternatives to Property Taxation for Local Government." In Property Taxation and Local Government Finance: Essays in Honor of C. Lowell Harriss, edited by Wallace E. Oates, Cambridge, Massachusetts: Lincoln Institute of Land Policy.

 
Print Teaching
Teaching Interests
State and local public finance, public policy
Full-Time / Part-Time MBA
Urban Public Finance (formerly MGMT-932-0) (REAL-448-0)

This course counts toward the following majors: Management & Strategy, Real Estate Management, Social Enterprise.

Why did Chicago win the competition for the relocation of Boeing's corporate headquarters? Did the city give away the store? Why are property values higher in neighborhoods with good public schools? Why do commercial and industrial properties face significantly higher property tax rates than residential properties? In this course we apply tools and concepts of microeconomics to analyze how state and local governments operate and how their decisions affect the business environment. Topics include tax incentives for business, K-12 education finance, local property taxes, and state fiscal crises.

Public Economics for Business Leaders (SEEK-470-0)

This course counts towards the following majors: Management & Strategy, and Social Enterprise and Managerial Economics.

To be an effective business leader in today's complex world requires an understanding of the important public policy issues facing society. Managers need to understand society's problems and the range of possible public solutions and policies in order to know how to influence, incorporate and respond to public actions. This class will enable students to understand, analyze and take the perspective of government and non-government organizations as they attempt to alleviate societal problems. Topics include the interface of government and business, the justification for and principle methods of government intervention in the market place, the primary means of paying for government, measuring the costs and benefits of government policies, and current policy applications such as social security reform, education policy, health insurance and tax reform. Prerequisite: MECN-430 or MECN-436.