This paper examines how local governments adjust their spending, savings and taxes in response to a temporary revenue windfall generated by a housing boom and how they cope with the inevitable shortfall that appears during the bust. We focus on Spanish local governments given the intensity of...

This paper examines how local governments adjust their spending, savings and taxes in response to a temporary revenue windfall generated by a housing boom and how they cope with the inevitable shortfall that appears during the bust. We focus on Spanish local governments given the intensity of...

This study investigates the employment impact of investment subsidies in Germany. With 45 billion Euro for about 100,000 firms since the German reunification, these capital grants are the central element of regional policy for strengthening employment in economically weaker regions. The effects...

Recently, the number of state interventions and of firm subsidies has largely increased. However, the possible outcome of such interventions is rather am-biguous. This paper investigates the impact of firm subsidies granted by Ger-man regional policy. The long experiences made with regional...

Recently, the number of state interventions and of firm subsidies has largely increased. However, the possible outcome of such interventions is rather am-biguous. This paper investigates the impact of firm subsidies granted by Ger-man regional policy. The long experiences made with regional...

Over the past decade, housing supply restrictions across US cities have contributed to anemic housing construction and high prices in some of the most in-demand locations. In the best of times, these rules have burdened renters and homeowners with unaffordable housing costs. They have also...

Recently, the number of state interventions and of firm subsidies has largely increased. However, the possible outcome of such interventions is rather am-biguous. This paper investigates the impact of firm subsidies granted by Ger-man regional policy. The long experiences made with regional...

Many prior treatments of agglomeration either explicitly or implicitly suppose that all industries agglomerate for the same reasons, with traditional Marshallian (1890) factors affecting all industries similarly. An important instance of this approach is the extrapolation of the agglomeration...

The paper underlines that both the incentive and the concrete design of strategies/procedures are powerfully triggered by the environment of the program meant to reduce the gaps, i.e. the individual restricted rural structure circumstances. The transferability of '˜good practice' is given to a...