Search Results
Journal Article
Are states giving away the store?
Working Paper
Entrepreneurship and government subsidies under capital constraints: a general equilibrium analysis
This paper studies the interaction of capital constraints with business formation, growth and destruction, and the policy implications of this interaction. A dynamic general equilibrium model is constructed and shown to be consistent with recent empirical finding on this subject. In the model, agents face uninsurable income risk and costly financial intermediation, and they choose to be either a worker or an entrepreneur. A calibrated version of the model is used to examine two government assistance programs: loan guarantees and grants. The main findings are that both programs can improve ...
Conference Paper
Safety net subsidies at U.S. commercial banks, 1985-1994
Journal Article
Making transit work
Journal Article
Bidding against the future?
Journal Article
The economic war among the states: an overview
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.