The soft budget constraint
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Note: Editors’ note: The Hungarian language series is published by the bilingual Hungarian–Slovak publishing house, Kalligram. Volume IV, containing 13 papers published already elsewhere, came out in Spring 2014. The full titles of these papers, as well as information pertaining to their accessibility in languages other than Hungarian can be found at the end of this study on pp. 78–79.
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- János Kornai*, 1986. "The Soft Budget Constraint," Kyklos, Wiley Blackwell, vol. 39(1), pages 3-30, February.
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Keywords
soft budget constraint; bail-out; loss-making enterprise; moral hazard; time inconsistency;All these keywords.
JEL classification:
- B52 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Historical; Institutional; Evolutionary; Modern Monetary Theory;
- D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- H2 - Public Economics - - Taxation, Subsidies, and Revenue
- P51 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems
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