Reconsidering the Determinants of Public Authority Use
研究了各州在独立公共机构使用上的差异原因，发现证据不支持公共机构是“借贷机器”的观点，财政动机并非主要决定因素。
This article investigates the causes of differences among states in the use of independent public authorities. Contrary to findings in previous work, I find that the evidence does not support the view that authorities are “borrowing machines”, created to provide better access to capital markets. Rather, the factors associated with use of authorities seem distinct from those associated with general obligation borrowing, which suggests that purely fiscal motivations are not primary determinants of the use of authorities.