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Un modèle d'endettement régional avec contrainte budgétaire molle

Author

Listed:
  • Marie-Laure Breuillé

    (UPN - Université Paris Nanterre)

  • Thierry Madiès

    (UNIFR - Université de Fribourg = University of Fribourg)

  • Emmanuelle Taugourdeau

    (UN - Université de Nantes)

Abstract

In this article, we endogenously derive the soft budget constraint phenomenon in a federation when fiscal decisions are delegated to regions. In this framework, the softness of the regional budget constraint results from federal government cross-subsidization objective. We analyse the impact of the soft budget constraint on the borrowing opportunity cost.

Suggested Citation

  • Marie-Laure Breuillé & Thierry Madiès & Emmanuelle Taugourdeau, 2006. "Un modèle d'endettement régional avec contrainte budgétaire molle," Post-Print hal-02664987, HAL.
    • Handle: RePEc:hal:journl:hal-02664987
    DOI: 10.3917/reco.573.0553
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    JEL classification:

    • H7 - Public Economics - - State and Local Government; Intergovernmental Relations

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