The traditional view of municipal finance holds that the federal tax-exemption of interest payments by state and local (municipal) governments provides a capital cost subsidy to municipal investment equal to the difference between interest rates on taxable and tax-exempt bonds. Recently, a new...

A discussion of the use of municipal debt issues to fund publicly supported stadiums, focusing on the role of federal tax exemption as a hidden subsidy in reducing local funding costs and on the rationale for seeking public subsidies of private, local facilities.

Статья «Финансовая обеспеченность муниципальных образований поселенческого типа», посвящена анализу проблем местного самоуправления в России. Автор...

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In the view of many analysts, the best way to assist “underwater” homeowners—those who owe more on their mortgages than their houses are worth—is to reduce the principal on their home loans. Yet in the case of privately securitized mortgages, such write-downs are almost impossible to...