attempting to minimize subsidies to banks' equityholders. When banks do not diffr with respect to the extent of debt overhang, it … can be fully overcome with the minimal amount of subsidies, providing each bank's equity holders no more than their pre …

model to analyse the impact of R&D subsidies. There are some clear global policy implications which emerge from our analysis …. First, because subsidies to Southern innovation benefit the North as well, it is beneficial to the North to pay for some of … these subsidies. Second, because the ability of the South to assimilate Northern knowledge and innovate depends on Southern …

government's budget, especially the roles played by taxes and subsidies. This paper reviews the Hungarian fiscal situation in … taxation and the various forms of subsidy and social welfare provision. Despite the removal of many former subsidies, the paper … finds that many implicit and unjustified subsidies remain, and they continue to distort resource allocation in undesirable …

each government may grant R&D subsidies to the domestic firm. We show that it is optimal for a government to provide higher … R&D subsidies the lower the level of trade costs, even if the firms are independent monopolies. If firms produce … necessarily welfare-maximizing. The optimal coordinated policies may imply an asymmetric outcome with R&D subsidies to only one of …

This paper analyses the distribution and allocation of budgetary subsidies and tax arrears in Central and Eastern … Europe. Budgetary subsidies are relatively small in aggregate, highly sector specific, and the manufacturing sector receives …