Overlapping soft budget constraints

被引：19

作者：

Breuille, Marie-Laure ^{[2
,3
]}

Vigneault, Marianne ^{[1
]}

机构：

[1] Bishops Univ, Sherbrooke, PQ J1M 1Z7, Canada

[2] INRA, Econ, F-21079 Dijon, France

[3] INRA, CESAER, F-21079 Dijon, France

来源：

JOURNAL OF URBAN ECONOMICS | 2010年 / 67卷 / 03期

关键词：

Soft budget constraint; Fiscal federalism; Capital tax competition; TAX COMPETITION; REDISTRIBUTION; FEDERALISM; BAILOUTS;

D O I：

10.1016/j.jue.2009.09.011

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Our paper identifies a potential problem with decentralization at a time when its virtues are widely extolled. We show that responsibility for equalization at multi-levels within a decentralized federation creates an overlapping equalization policy that can worsen fiscal discipline. Contrary to Qian and Roland (1998), we also show in our set-up that fiscal competition among regional rescuers does not act as a commitment device to harden the local budget constraint. (c) 2009 Elsevier Inc. All rights reserved.

引用

页码：259 / 269

页数：11

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