The role of matching grants as a commitment device in the federation model with a repeated soft budget setting

IF 1.2 4区经济学 Q3 ECONOMICS Economics of Governance Pub Date : 2019-01-25 DOI:10.1007/s10101-019-00221-7

Nobuo Akai, Motohiro Sato

引用次数: 0

Abstract

This paper revisits the soft budget versus the hard budget constraint in federations. By extending Besfamille and Lockwood (Int Econ Rev 49:577–593, 2008), who examine a case where the soft budget is ex ante favorable, we consider a model that allows the federal government to use a matching grant as an ex post policy instrument. We establish that this instrument acts as a commitment device and may improve social welfare compared with the situation in which the government’s ex ante policy options are limited to a hard or soft budget.

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在重复软预算设置的联合会模式中，配套补助金作为一种承诺手段的作用

本文重新审视了联邦中的软预算与硬预算约束。Besfamille 和 Lockwood（Int Econ Rev 49：577-593，2008 年）研究了事前软预算有利的情况，通过对他们的研究进行扩展，我们考虑了一个允许联邦政府使用配套赠款作为事后政策工具的模型。我们认为，与政府的事前政策选择仅限于硬预算或软预算的情况相比，该工具作为一种承诺工具，可能会改善社会福利。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Economics of Governance ECONOMICS-

CiteScore

1.50

自引率

0.00%

发文量

期刊介绍： Economics of Governance aims to foster research on governance at many levels: corporations, non-profit organizations, local and federal governments, and international organizations. Applications include the internal organization of firms, corporate governance, the private provision of public goods, local public policies, relations across levels of government, public expenditure and regulation, and problems of credibility and enforcement of international agreements. Though the journal aims to contribute to general economic knowledge, it is also interested in applying theoretical and empirical insights to important current topics. The journal is open to many approaches, including formal theoretical analysis, systematic observation, simulation, and empirical studies. Interdisciplinary contributions by economists, organizational scholars, and political scientists are encouraged. Officially cited as: Econ Gov