time allows the identification of budget constraint softness on state fiscal policy. We take advantage of the fact that in … budget constraint have higher deficits and debts, and receive more bailouts funds. Further, overrepresented states are less …

's intertemporal budget constraint. Our empirical analysis, based on Italy, shows that the Italian government is meeting its … intertemporal budget constraint, in spite of the high levels of public debt. Nevertheless, the burden of correcting budgetary … tax rate adjusts faster the farther away it is from the equilibrium. -- intertemporal budget constraint ; sustainability …

We present a new dynamic auction for procurement problems where payments are bounded by a hard budget constraint and …

enforce hard budget constraint rules. The paper adds an important dimension to the study of cream skimming as proposed by the …