Comparing cities by the use of indicators representing numerous aspects of urban life is crucial to policy decisions, such as the funding allocation for urban development. Principal Component Analysis reveals a small number of indicators – from an initial set of 46 – which have a high impact...

With the introduction of the JESSICA (Joint European Support for Sustainable Investments in City Areas) Initiative, the European Commission aimed at strongly enhancing investments in urban areas to meet the steadily increasing requirements, arising from urbanisation, for European cities. One...

First, we show the equivalence of loans and grants as a means of subsidizing urban development projects in a perfect capital market setting. However, with capital markets being imperfect, redeemable loans may serve as a credible commitment device in order to overcome problems of asymmetric...