TY  - BOOK
AU  - Breuillé,Marie-Laure
AU  -  Madiès,Thierry
AU  -  Taugourdeau,Emmanuelle
TI  - A Model of Regional Debt with a Soft Budget Constraint
PY  - 2006///.
							
N1  - 10
N2  - In this article, we endogenously derive the soft budget constraint phenomenon in a federation when fiscal decisions are delegated to regions. In this framework, the softness of the regional budget constraint results from federal government cross-subsidization objective. We analyse the impact of the soft budget constraint on the borrowing opportunity cost. Classification JEL : E62; H7
UR  - https://shs.cairn.info/journal-revue-economique-2006-3-page-553?lang=en&redirect-ssocas=7080
ER  -