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....

This paper investigates dynamic properties of fiscal reconstruction by analyzing the infinite duration dynamic game among various interest groups with a framework of voluntary acceptance of tax burden. By comparing the first best solution, the open-loop solution under enforceable commitments,...

This paper investigates dynamic properties of environmental externalities with a framework of voluntary provision of a public good by analyzing the infinite duration dynamic game. We compare the first best solution, the open-loop solution under enforceable commitments, and the closed-loop...

This paper investigates dynamic properties of fiscal reconstruction process by analyzing the infinite duration dynamic game among various interest groups with a framework of voluntary acceptance of tax burden. By comparing the first best solution, the open-loop solution under enforceable...

This paper investigates dynamic properties of fiscal reconstruction by analysing the infinite duration dynamic game among various interest groups with a framework of voluntary acceptance of tax burden. By comparing the first best solution, the open-loop solution under enforceable commitments,...