haku: @author Maskin, E. / yhteensä: 15
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| Tekijä: | Maskin, E. |
| Otsikko: | Theories of the soft budget-constraint |
| Lehti: | Japan and the World Economy
1996 : JUN, VOL. 8:2, p, 125-134 |
| Asiasana: | JAPAN PRODUCTION BUDGET |
| Kieli: | eng |
| Tiivistelmä: | A soft budget-constraint arises whenever a funding source finds it impossible to keep an enterprise to a fixed budget, i.e., whenever the enterprise can extract ex post a bigger subsidy or loan than would have been considered efficient ex ante. The author reviews several recent theoretical models that attempt to predict the sorts of economies in which soft budget-constraints are likely to be present. Credit allocation, ownership rights, production and other concepts are discussed by Eric Maskin in this article. |
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