Federalism and the soft budget constraint

Article Abstract:

Research was conducted to examine the effects of federalism in hardening budget constraints. The first three-tier macroeconomic model of the soft budget constraint, which is viewed as a dynamic commitment problem in the framework of a federal government, is presented. Results demonstrate that the reform of the organization of government such as fiscal decentralization is a critical dimension of the transition process and could have a profound influence on the other dimensions of transition.

Public Finance Activities, Fiscal Policy, Federalism, Economic policy, Budget, Budgeting, Budgets, Decentralization in government, Government decentralization

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Distributional conflicts, factor mobility, and political integration

Article Abstract:

The increase in the mobility of Europeans can influence the development of public policies in Europe. Using a model on public goods, income and individual preferences, it can be seen that perfect mobility may result to the standardization of fiscal policies and tax rates and the elimination of obstacles to political integration. On the other hand, the absence of mobility can lead to the creation of barriers to integration and differences in public policies.

Models, Europe, Public goods, Migration, Internal, Internal migration

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Who are China's entrepreneurs?

Article Abstract:

Impact of social groups and family members on entrepreneurship with relation to aptitude of entrepreneurs is presented.

China, Public affairs, Social aspects, Analysis, Family, Businesspeople, Social groups, Entrepreneurship, Entrepreneurs

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