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Showing results 1 to 10 of approximately 42.
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Journal Article
Will this be cash or charge? Fifth district municipal debts
Working Paper
Debt capacity, tax exemption, and the municipal cost of capital: a reassessment of the new view
The Traditional View of municipal investment holds that the federal tax-exemption of interest payments by state and local (municipal) governments provides a capital cost subsidy to municipal investment. Recently a New View has emerged which argues that tax-exemption plays a minor role, if any, in shaping municipal investment decisions. In its simplest version (with municipal debt issued at a constant interest rate), the New View argues that tax-exemption plays a role only for municipalities in which the representative individual has an income tax rate lower than the implicit tax rate on ...
Working Paper
A model of the employment effects of a local labor tax
Monograph
Short-term municipal securities
Working Paper
Estimating the relationship between local, public and private investment
A discussion of whether public outlays influence private investment, modeling the timing and effectiveness of public infrastructure as a local policy instrument.
Journal Article
Public subsidies for private purposes
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.
Speech
Impact of the Great Recession on public schools in the region
Remarks at the Quarterly Regional Economic Press Briefing, New York City.
Working Paper
Federal grant policies and public sector scrappage decisions
An examination of capital policies in the public and private sector through analysis of the scrappage decisions of local mass-transit providers, showing that the structure of federal grants has a direct impact on scrappage rates that leads to shorter equipment life in the local public sector.
Journal Article
Thinking about the deductibility of state and local taxes