The dynamic and persistent effects of tax increment financing as an example of place-based policy: evidence from Cook County, Illinois
用交错双重差分法分析伊利诺伊州库克县的税收增量融资政策，发现其在芝加哥市减少企业数量，但在非芝加哥地区6-20年内增加就业，并具有持续效应，有助于评估对落后地区的补贴政策。
Using a staggered difference-in-differences design, this paper analyses the effects of tax increment financing (TIF) in Cook County, Illinois. TIF is negatively correlated with the number of establishments in Chicago, likely due to unintended tax burdens and competition between TIF districts. In non-Chicago areas, TIF shows positive effects on employment for 6–20 years. Lastly, this study provides evidence of the persistent effects of TIF and its potential to move localities from low- to high-density economic activity, calling for a re-evaluation of the argument against subsidising economically lagging areas.