Therese McGuire
Therese McGuire

STRATEGY; REAL ESTATE PROGRAM; SOCIAL ENTERPRISE
Senior Associate Dean: Curriculum and Teaching
ConAgra Foods Research Professorship in Strategic Management
Professor of Strategy

Print Overview
Therese J. McGuire is Professor of Strategy at Kellogg School of Management. 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
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

Grants and Awards
Alumni-Master Award, College of Arts and Sciences, University of Nebraska-Lincoln, 2010

Editorial Positions
Editorial Board, Journal of Economic Literature, 2009-present

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

Articles
Calsamiglia, Xavier, Teresa Garcia-Mila and Therese McGuire. 2013. Tobin Meets Oates: Solidarity and the Optimal Fiscal Federal Structure.
Dye, Richard F., Therese McGuire and Daniel McMillen. 2005. Are Property Tax Limitations More Binding over Time?. National Tax Journal. 58(2): 215-225.
Garcia-Mila, Teresa and Therese McGuire. 2002. Tax Incentives and the City. Brookings-Wharton Papers on Urban Affairs.
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.
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.
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.
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.
Downes, Thomas A., Richard F. Dye and Therese McGuire. 1998. Do Limits Matter? Evidence on the Effects of Tax Limitations on Student Performance. Journal of Urban Economics. 43(3): 401-417.
McGuire, Therese and Richard Dye. 1997. The Effect of Property Tax Limitation Measures on Local Government Fiscal Behavior. Journal of Public Economics. 66(3): 469-487.
Crihfield, John B. and Therese McGuire. 1997. Infrastructure, Economic Development, and Public Policy. Regional Science and Urban Economics. 27(2): 113-116.
McGuire, Therese, Robert H. Porter and Teresa Garcia-Mila. 1996. The Effect of Public Capital in State-Level Production Functions Reconsidered. The Review of Economics and Statistics. 78(1): 177-180.
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.
McGuire, Therese and Teresa Garcia-Mila. 1992. The Contribution of Publicly Provided Inputs to States' Economies. Regional Science and Urban Economics. 22(2): 229-241.
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.
Dye, Richard F. and Therese McGuire. 1992. Sorting Out State Expenditure Pressures. National Tax Journal. 45(3): 315-329.
McGuire, Therese. 1991. State and Local Tax Reform for the 1990s: Implications from Arizona. Journal of Policy Analysis and Management. 10(1): 64-77.
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.
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.
McGuire, Therese. 1987. The Effect of New Firm Locations on Local Property Taxes. Journal of Urban Economics. 22(2): 223-229.
McGuire, Therese. 1986. Interstate Tax Differentials, Tax Competition, and Tax Policy. National Tax Journal. 39(3): 367-373.
McGuire, Therese. 1985. Are Local Property Taxes Important in the Intrametropolitan Location Decisions of Firms?. Journal of Urban Economics. 18(2): 226-234.
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.
McGuire, Therese. 1983. Firm Location in a Tiebout world. Journal of Regional Science. 23(2): 211-222.
Working Papers
McGuire, Therese and Nathan Anderson. 2011. School Finance Reform and the Progressivity of State Taxes.
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: How Economic and Policy Changes Are Affecting Low-Wage Workers, 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.
McGuire, Therese. 1999. "The States, Welfare Reform, and the Business Cycle." edited by Sheldon H. Danziger, Kalamazoo, Michigan: W.E. Upjohn Institute for Employment Research.
McGuire, Therese. 1997. "Intergovernmental Fiscal Relations and Social Welfare Policy." In Intergovernmental Fiscal Relations: Perspectives and Prospects, edited by Ronald C. Fisher, Norwell, Massachusetts: Kluwer Academic Publishers.
McGuire, Therese and Richard Dye. 1992. "Expanding the Sales Tax Base: Implications for Growth and Stability." In Sales Taxation: Critical Issues in Policy and Administration, edited by William F. Fox, Westport, Connecticut: Praeger Publishers.
McGuire, Therese and Douglas Holtz-Eakin. 1991. "Federal Aid to States and Localities and the Appropriate Competitive Framework." In Competition Among States and Local Governments: Efficiency and Equity in American Federalism, edited by Daphne A. Kenyon, John Kincaid, Washington, D.C.: Urban Institute Press.
Other
McGuire, Therese and Nathan Anderson. "Property Taxation in Illinois: A Framework for Reform." State Tax Notes. 48(3); April 21, 2008: p.207-219.
McGuire, Therese and Kim S. Rueben. "The Colorado Revenue Limit: The Economic Effects of TABOR." State Tax Notes. 40(6); May 8, 2006: 459-463.
Dye, Richard F. and Therese McGuire. "Illinois's Individual Income Tax and General Sales Tax: Options for Reform." State Tax Notes. 38(5); October 24, 2005: 371-381.
Garcia-Mila, Teresa and Therese McGuire. "Solidarity and Fiscal Decentralization." Proceedings National Tax Association 96th(2003) Annual Conference on Taxation: 152-156.
McGuire, Therese. "Do Taxes Matter? Yes, No, Maybe So." State Tax Notes. 28(10); June 9,2003: 885-890.
Dye, Richard F., J. Fred Giertz and Therese McGuire. "An Analysis of Illinois State Business Tax Provisions." State Tax Notes.28(8);May 26,2003: 725-735.
McGuire, Therese and Richard Dye. "Property Taxes, Schools, and Sprawl." State Tax Notes. 18(23); May 29,2000: 1899-1909.
McGuire, Therese and J. Fred Giertz. "Clearly, the Income Tax." State Tax Notes. 16(2); January 11,1999: 119-124.
McGuire, Therese and Richard Dye. "Block Grants and the Sensitivity of State Revenues to Recession." Proceedings of the 90th(1997) Annual Conference on Taxation, National Tax Association, Washington, D.C., 1998.
McGuire, Therese. "Rationalizing the Financing of Local Governments in the Chicago Metropolitan Area." Proceedings of the 90th (1997) Annual Conference on Taxation, National Tax Association, Washington, D.C., 1998.
McGuire, Therese. "An Assessment of the Incidence of Taxing Food in Illinois." State Tax Journal. 13(5); August 4,1997: 325-329.
McGuire, Therese and Kim S. Rueben. "Tax and Bond Referenda in California and Illinois: Observations on Local Governments Operating Under State-Imposed Constraints." Proceedings of the 89th (1996) Annual Conference of Taxation-National Tax Association-Tax Institue of America, Washington, D.C., 1997.
McGuire, Therese and James D Nowlan. "The Illinois Structural Budget Dilemna: The Gap Between Expectations and Revenue Realities." State Tax Notes. 10(10); March 4, 1996: 727-741 .
McGuire, Therese and J. Fred Giertz. "Regional and Statewide Property Tax Base Sharing for Education." Proceedings of the 85th (1992) Annual Conference on Taxation, National Tax Association-Tax Institute of America, Columbus, Ohio, 1993.
McGuire, Therese and J. Fred Giertz. "State-Aid and State-imposed Controls and Local Fiscal Outcomes." Proceedings of the 83rd (1990) Annual Conference on Taxation, National Tax Association-Tax Institute of America, Columbus, Ohio, 1991.
Conference Proceedings
McGuire, Therese, Nathan Anderson and Teresa Garcia-Mila. Forthcoming. "Do Differences in State Fiscal Structures Help Explain Differences in State Fiscal Crises? A Preliminary Examination.".

 
Print Teaching
Teaching Interests
State and local public finance, public policy
Full-Time / Part-Time MBA
Public Economics for Business Leaders: State and Local Policy (KPPI-480-0)

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

Formerly SEEK-480-0

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.

Real Estate Lab (REAL-916-0)

This course counts toward the following majors: Real Estate.

Real Estate Lab is an experiential learning course that allows Kellogg students the opportunity to participate in a quarter-long project, working in a research and advisory role on a real estate project for a sponsor firm or organization. The students will hold weekly team meetings, attend a mid-quarter progress meeting with the sponsor, and deliver a final paper, presentation and Q&A opportunity for the sponsor. Course registration is by application only. The faculty member makes the final selection of students for the project team. Note: This course may not be dropped once the application has been accepted.

The faculty member for sections of Real Estate Lab that address questions of real estate investment, development, or operations is William Bennett; the faculty member for sections of Real Estate Lab that address questions of public policy with an impact on the real estate industry is Therese McGuire.