Di Gioacchino, Debora; Sabani, Laura; Tedeschi, Simone - In: Economic Modelling 36 (2014) C, pp. 629-644
Empirical cross-country evidence suggests that countries position themselves along a sort of Market Regulation (MR)-Social Expenditure (SE) trade-off “line”. Theoretically, it is clear that there exists a certain degree of substitutability between SE and MR, since both can provide a cushion...