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Federal Reserve Bank of Cleveland
Economic Commentary
Public subsidies for private purposes
William P. Osterberg
Abstract

A discussion of the use of municipal debt issues to fund publicly supported stadiums, focusing on the role of federal tax exemption as a hidden subsidy in reducing local funding costs and on the rationale for seeking public subsidies of private, local facilities.


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William P. Osterberg, "Public subsidies for private purposes" , Federal Reserve Bank of Cleveland, Economic Commentary, issue Apr, 1991.
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Keywords: Municipal finance ; Securities; Tax-exempt
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