We examine how public liquidity should be distributed to firms when immediate production entails externalities, such as by spreading a virus. Direct provision of can address but traditional distribution (through banks) has informational advantages. show that which mode is preferred determined the variance (but not level) firm characteristics in economy. Traditional always part optimal policy mo...

Over the past few years, an exciting new IT sourcing model has emerged: business managers can now rent business applications over the Internet. Initially called “application service provision,” “ASP,” or more informally, “apps on tap,” this sourcing model promises to deliver best-of-breed, scalable, and flexible business applications to customer desktops. The low monthly fee is based on number ...