Breuillé, Marie-Laure; Madiès, Thierry; Taugourdeau, … - In: Revue économique 57 (2006) 3, pp. 553-561
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...