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This paper investigates the dynamic properties of intergovernmental financing during a fiscal reconstruction process by analyzing the dynamic game among local governments, which operates with soft budget constraints because of concessionary region-specific transfers from a central government....
Persistent link: https://www.econbiz.de/10008692900
This paper investigates the macroeconomic effect of fiscal policy and the fiscal reconstruction movement in Japan. I first summarize Japanese fiscal policy in the recent years and discuss sustainability of government deficits. Then, I investigate the macroeconomic effect of Japanese fiscal...
Persistent link: https://www.econbiz.de/10005711352
Persistent link: https://www.econbiz.de/10005542979
Persistent link: https://www.econbiz.de/10008926043