THE EFFECT OF TIME ON THE SOFT BUDGET CONSTRAINT
In addition to meeting a binding budget constraint
, the consumer must survive: his caloric intake may not fall below some specified minimum.
In this study, we show that debt centralization could result in soft budget constraint
(SBC) of local governments by building and analyzing a stylized model that might be new to the literature.
A firm is said to have a soft budget constraint
if a bank allows the firm to continue to operate even when continuation is ex post inefficient.
He said, 'The only place in the company that doesn't have a budget constraint
is that area, because how would I know how to assess, why would I take my judgment and say you could do this cheaper.
This is called the budget constraint
- you are subjected to it, I am subjected to it, the Government is subjected to it.
An attempt has been made to maximize the output function of an agency subject to a nonlinear budget constraint
by assuming that the agency gets price discounts for purchasing larger quantities of other inputs.
As its name suggests, the benefits budget constraint
defines the locus of maximum benefits the regulator is able to deliver to the affected interest groups.
1993) recommendation to include substitute and budget constraint
reminders in contingent markets.
Without a long-range budget constraint
on social security, it will be much more difficult to limit future benefit growth.
Ultimately, the soft budget constraint
syndrome is a manifestation of the paternalistic role of the state in the socialist system.