Un modèle d'endettement régional avec contrainte budgétaire molle

Marie-Laure Breuillé (), Thierry Madiès () and Emmanuelle Taugourdeau ()
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Marie-Laure Breuillé: EconomiX - EconomiX - UPN - Université Paris Nanterre - CNRS - Centre National de la Recherche Scientifique
Thierry Madiès: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique
Emmanuelle Taugourdeau: CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR - Université de Rennes - CNRS - Centre National de la Recherche Scientifique

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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.

Keywords: endettement; région; contrainte budgétaire molle (search for similar items in EconPapers)
Date: 2006
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Published in Revue Economique, 2006, 57 (3), pp.553-561

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00076663

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