presence of externalities. The paper employs a two-period, open economy framework in which the central government allocates its … externalities. This is not only because debt relief that expands the availability of current resources has positive direct income …

The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple … effective institutions exist for overcoming coordination failure. External financing may weaken incentives for adjustment over … that strengthen incentives to provide effort. Uncertainty regarding future taxes reduces present effort and the …

create asymmetric incentives because increases in externalities remain unpriced. This paper examines implications of such …Many countries use substantial public funds to subsidize reductions in negative externalities. However, such subsidies … asymmetric subsidy incentives by using a regression discontinuity design in California's electricity rebate program that provided …

billion from traffic congestion, and $17 billion from accidents. Government incentives for alternative fuel vehicles are … unlikely to cost-effectively reduce these externalities as they do little to address traffic congestion or accidents, and only …

This paper surveys the econometric evidence on the effectiveness of fiscal incentives for R&D. We describe the effects …