Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
Eine Plattform für die Wissenschaft: Bauingenieurwesen, Architektur und Urbanistik
The effects of state guarantees of municipal bonds
Abstract This paper analyzes the allocational and distributional effects of state municipal bond guarantee programs and evaluates public guarantees given that private programs also exist. The state programs as constituted will lead to misallocation of resources and questionable cross subsudies among municipalities. The only economic rationale for state subsidies is that the local public infrastructure generates positive externalities which are beneficial to the rest of the state. Even if the allocative and distributional deficiencies of the state programs were corrected, it is questionable whether state programs are desirable given that private programs also exist.
The effects of state guarantees of municipal bonds
Abstract This paper analyzes the allocational and distributional effects of state municipal bond guarantee programs and evaluates public guarantees given that private programs also exist. The state programs as constituted will lead to misallocation of resources and questionable cross subsudies among municipalities. The only economic rationale for state subsidies is that the local public infrastructure generates positive externalities which are beneficial to the rest of the state. Even if the allocative and distributional deficiencies of the state programs were corrected, it is questionable whether state programs are desirable given that private programs also exist.
The effects of state guarantees of municipal bonds
Morgan, William E. (Autor:in) / Paananen, Orman (Autor:in)
1978
Aufsatz (Zeitschrift)
Englisch
Bonds and Parent Company Guarantees
| Wiley | 2020
Performance Bonds and Guarantees: Construction Owners and Professionals Beware
| Online Contents | 1999
Performance Bonds and Guarantees: Construction Owners and Professionals Beware
| British Library Online Contents | 1999
The Outlook for Municipal Bonds
| Wiley | 1948
Financial Performance Guarantees: The State of Practice
| Taylor & Francis Verlag | 1989