Understanding the Soft Budget Constraint
Bibliographic Data
| ID | 23337828 |
|---|---|
| Authors | Janos Kornai (Harvard University), Eric Maskin (Princeton University), Gérald Roland (University of California, Berkeley) |
| Year | 2003 |
| Volume | 41 |
| Issue | 4 |
| Pages | 1095-1136 |
| Publication date | 2003-12-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Economic Literature (JOURNAL) |
| Journal identifiers | ISSN: 0022-0515 • E-ISSN: 1547-1101 |
| Publisher | American Economic Association (PUBLISHER • US) |
| DOI | 10.1257/jel.41.4.1095 |
| OpenAlex | W3126098232 |
| Language | EN |
| Citations received | 96 |
| References cited | 5 |
We propose a clarification of the notion of a soft budget constraint, a concept widely used in the analysis of socialist, transitional, and market economies. Our interpretation is broad enough to embrace most existing approaches to soft budget constraint phenomena and provides a classification of their causes and consequences. In light of this interpretation, we then review the theoretical literature on the subject and compare it with those on other dynamic commitment problems in economics.
Budget constraint · Constraint (computer-aided design) · Economics · Interpretation (philosophy) · Management science · Microeconomics · Subject (documents) · Computer Science · Economic theories and models · Economic Theory and Institutions · Economic Theory and Policy · Engineering
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| Unique citing works | 96 |
|---|---|
| Citations per year | 2,67 |
| Citation span | 1990 - 2026 (37) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 89 |