The Government Budget Constraint
Is government budget constraint binding?
... By Minseong Kim ∗ A common question against macroeconomics of public debts is: why should one think government budget constraint is bind- ing when government, at least technically, can print ...
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Bubbles and the Intertemporal Government Budget Constraint
... of government liabilities equals the discounted value of future government ...a budget constraint: instead of restricting government Þscal and monetary policy, it should be seen as ...
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Limitations of the Government Budget Constraint: Users vs. Issuers of the Currency
... Intertemporal Government Budget Constraint (IGBC), a construct that is derived from the Government Budget Constraint (GBC) and a key assumption that private credit markets set ...
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The economics of the government budget constraint
... Excessive budget deficits can lead to inflation, W.aether any particular path of fiscal policy exchange crises, extemal debt crises, and high is sustainable has to be checked through [r] ...
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Intertemporal Government Budget Constraint: Debts and Economic Growth in Ethiopia, 1990–2018
... Tung (2018) examines the effect of fiscal deficit on economic growth in Vietnam where the Vietnamese government has been facing large fiscal deficits for many years. He employs the Error Correction model on the ...
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The expenditure impacts of individual higher education institutions and their students on the Scottish economy under a regional government budget constraint : homogeneity or heterogeneity?
... 31 account the reduction in public expenditure elsewhere as a result of maintenance grants from the Scottish Government. This multiplier is then added to the HEI balanced expenditure values given in Figure 3. ...
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The expenditure impacts of individual higher education institutions and their students on the Scottish economy under a regional government budget constraint : homogeneity or heterogeneity?
... 31 account the reduction in public expenditure elsewhere as a result of maintenance grants from the Scottish Government. This multiplier is then added to the HEI balanced expenditure values given in Figure 3. ...
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Estimating the effects of fiscal policy under the budget constraint.
... the government budget ...the government keeps budget balance period-by-period, but only if it uses distortionary ...the government budget constraint seriously can overturn ...
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Reputation and the Soft-Budget Constraint
... Reputational considerations may thus lead to the emergence of hard-budget constraints even without any explicit or implicit government policy to that effect. Reputation may be especially important for ...
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Substitution and income effects at the aggregate level: The effective budget constraint of the government and the flypaper effect
... maximizing government that faces aggregate responses to the fiscal ...optimal government decisions is far more ...the government finance any given level of public ...
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Soft budget constraint and the parastatal sector
... the budget constraint should be given equal priority with ...the budget constraint was also highlighted theoretically for all the developing countries by many authors (Raiser, 1994; Anderson, ...
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Fiscal Equalisation and the Soft Budget Constraint
... soft budget problem arises when opportunistic behaviour of subnational governments, who strive for higher grants from the federal budget, meets the inability of the federal government to deny ...soft ...
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The Soft Budget Constraint: A Theoretical Clarification
... the government as repayment for the initial ...the government has an incentive to prevent them from failing and thus already have a moral hazard motivation to believe that a government rescue of some ...
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Picking the Right Budget Constraint for Scotland
... Scottish Government took measures successfully to increase the Scottish base and tax collections this source of public funding would be supplemented by a growing block ...
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A Political Economy Theory of the Soft Budget Constraint
... ruling government of President Hipolito Mejía of the Dominican Republic claimed that hun- dreds of projects that were begun by the government of Joaquin Balaguer, two governments before, were then paralyzed ...
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A graphical introduction to the budget constraint and utility maximization
... A graph showing the general utility maximization solution. Now, for reasons we don’t need to go into here (refer to Chapter 20), the Government decides that it needs some tax revenue. As such, it must impose a ...
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Bailouts in federations : is a hard budget constraint always best?
... it is inefficient to do so; or (b) if ∆ SBC (c) ≤ ∆ ≤ min { b g − c, ∆ ∗ (c) } , investments are made in equilibrium when it is efficient to do so, but low effort is supplied when it is efficient to supply high effort. Comparing ...
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Trade Liberalization, Heterogeneous Firms and the Soft Budget Constraint
... soft budget constraint (SBC) and international trade liberalization by placing Segal’s (1998) SBC model within Melitz’s (2003) framework of international trade with heterogeneous monopolistically ...
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Voters as a hard budget constraint: On the determination of intergovernmental grants
... all government levels and decide also on public services at the same government ...federal government and/or particularly rich states and therefore provides additional possibilities to increase ...
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Voters AS A Hard Budget Constraint: On the Determination of Intergovernmental Grants
... the government exceeds a certain threshold, a referendum has to take place (mandatory referendum) or could take place when a sufficient number of signatures from the elec- torate has been collected (optional ...of ...
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