Over half a million children in the United States are currently in foster care, many of whom are at risk for long-lasting emotional and health problems. Because research suggests that adoption may be one of the most promising options for the placement of these at-risk children, various policies have been introduced at all levels of government to encourage adoption. In 1980, Congress passed the ...

Larvae of intertidal species develop at sea and must return to adult habitats to replenish populations. Similarly, nutrients, detritus and plankton provide important subsidies spurring growth and reproduction of macroalgae and filter-feeding invertebrates that form the foundation of intertidal communities. Together, these factors determine the density and intensity of interactions among communi...

We provide a new modeling framework to analyze a subsidy allocation problem with endogenous market response, under a budget constraint on the total amount of subsidies that the central planner can pay. The central planner’s objective is to maximize the aggregated market consumption of a good, or equivalently, to maximize the consumer surplus. Using our framework, we identify sufficient conditio...

In this paper we examine the impact of the combined state and federal mortgage interest tax subsidies to homeownership on homeownership attainment, using panel data from 1984 to 2007 and exploiting the fact that the value of these subsidies may vary by income group across states and over time and depending on local housing market conditions and lending standards. We also exploit the fact that h...

This paper analyzes the joint design of innovation and competition policy. It focuses on collusion sustainability changes due to implementation of antitrust fines and R&D subsidies in an extension of a model by Miyagiwa (2009). Generic subsidies for R&D are found not to facilitate collusion, while additional subsidization to research joint ventures (RJVs) can be collusion facilitating. We also ...

Introduction ................................................................................................................................. 86 How was the decline of inclusion caused? .............................................................................. 88 Why is the decline of inclusion a problem for social action? ................................................ 90 Graduated (and ...

Financial safety nets are intended to reduce the likelihood and severity of financial crises that have macroeconomic externalities. While safety nets are intended to confer benefits on the macroeconomy, their design and implementation may confer disproportionate benefits on identifiable sectors, such as banks and depositors. In this study, we distinguish between safety net benefits and subsidie...

This paper offers a critical commentary on the launch process for a large commercial aircraft (LCA). Using the Boeing 7e7 as an example, we argue that the contemporary launch process bears little resemblance to previous practices. Specifically, the launch process involves both domestic and foreign subsidies because US production is now organized under a ‘systems integration’ basis. Under system...

This paper provides a unified treatment of externalities associated with fertility and human capital accumulation as they relate to pension systems. It considers as overlapping generations model in which every generation consists of high earners and low earners with the proportion of types being determined endogenously. The number of children is deterministically chosen but the children’s futur...