benefits and tax credits among 'comparable' households. We implement this approach by estimating a discrete choice model of … direct cost of 0:3% of GDP might raise total fertility by about 0:3 point. …

respond to labour tax rates and government supplied non-employment benefits. We compare aggregate and individual outcomes in … terms of how macroeconomic aggregates respond to some types of government supplied non-employment benefits, but remarkably …

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 …

cost of capital when markets are complete and frictionless, but fail in the presence of payoff-relevant market … necessarily capture opportunity cost, and we develop a definition that fully incorporates government’s opportunity cost in both …

We set up a simple trade model with two countries hosting one firm each. The firms invest in cost-reducing R&D, and … 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 …