finance" view of fiscal policy is adopted. A section on the intertermporal budget constraint considers whether this constraint …

softness of a budget constraint. The defining feature of a soft budget constraint is a subordinate organization’s expectations … organization’s expectations for being bailed out to its fiscal behavior in order to quantify the extent of the soft budget … constraint. We postulate that expectations for bailouts are formed rationally and make use of an instrumental variable method to …

the initiative relaxes the government's lifetime budget constraint; (ii) depending on the response of monetary policy to …

research on this topic by explicitly recognising the role of the government budget constraint and the possible biases arising … growth once the budget constraint and omitted variables are taken into consideration. Therefore, we conclude that education …