¬scal competition among regional rescuers does not act as a commitment device to harden the local budget constraint. …

private firm, including endogenous imposition of the budget constraint on the public firm. Thus, we show that if the public … firm's inefficiency is sufficiently small, no imposition of budget constraint is more likely to improve welfare and vice … versa. Moreover, we suggest that in either budget constraint or non-budget constraint, the wages of the public firm can be …

-effects stochastic frontier model. The estimation results suggest that privatization, hardening budget constraint and reducing firms …

and soft-budget constraint are tackled before the restructuring. …

variations in nonlinear income taxes a common procedure has been to linearize the nonlinear budget constraint and apply methods …

variations in nonlinear income taxes a common procedure has been to linearize the nonlinear budget constraint and apply methods …

variations in nonlinear income taxes a common procedure has been to linearize the nonlinear budget constraint and apply methods …

’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 …