budget as a strategy to maintain and expand their political capital. Second, we examine whether such a strategy is rewarded …

: unemployment vouchers and low-wage subsidies. The unemployment vouchers are targeted exclusively at the unemployed (especially the … longterm unemployed) and are provided only for a limited period of time. The low-wage subsidies, on the other hand, are granted … relative to low-wage subsidies. Conversely, the greater the danger that workers come to be trapped in dead-end jobs with flat …

competitive. We implement an approach that allows for the joint estimation of direct and indirect effects of subsidies on … subsidized and non-subsidized firms. We find that firms that receive subsidies experience a boost for productivity. However, our … where other firms are subsidized. These negative externalities depend on the share of firms that receive subsidies in the …

class of "place based" policies attempt to address these differences through public investments and subsidies that target …