Search Results
Journal Article
Southern states ply the art of the deal
In the battle to attract new corporate citizens, states are assembling incentive packages that are richer than ever. Although Southeastern states have brought in glittering prizes, some wonder if the price they're paying for industrial incentives is too high.
Working Paper
The subsidy from state and local tax deductibility: trends, methodological issues, and its value after federal tax reform
Even though the momentum of the "devolution" movement has slowed, federal intergovernmental grants will probably be cut substantially during the next five to ten years. Federal tax reform could further erode federal assistance by eliminating the deduction for state and local personal income and property taxes. This deduction subsidizes the net cost to taxpayers of financing an additional dollar of state and local spending. In the language of economics, deductibility reduces the marginal "tax price" of state and local public goods. This paper clarifies methodological issues in the ...
Working Paper
The impact of capital grants on maintenance in the public sector
A study of how state and federal grants affect the maintenance policies of local mass-transit providers, showing that private owners of transit capital devote significantly greater resources to maintenance than do public owners of similar capital.
Journal Article
Nation of subway riders?
Journal Article
No more a slumlord?
Journal Article
Making transit work
Journal Article
Synfuel subsidy?
Journal Article
Pricing federal irrigation water
Conference Paper
The subsidy provided by the federal safety net: theory and measurement
Views about the value to depository institutions of the federal safety net differ widely. Resolution of the issue is important because defining the appropriate relationship between the federal safety net and financial institutions is central to the design of efficient financial modernization strategies. A model is presented of how the safety net subsidy affects the size of the banking system and the behavior of banks. The model suggests that banks should have lower capital ratios than similar nonbank financial firms. Evidence is presented that supports this prediction, and that banks have ...