Dokko, Jane K. - Federal Reserve Board (Board of Governors of the … - 2008
In this paper, I extend a theoretical model of the crowding out hypothesis, whereby government contributions to a … public good displace private giving, in order to illustrate how dollar-for-dollar crowding out is possible even when …-raising expenditures by arts organizations for every dollar decrease in government grants. The estimate of crowding out found in this paper …