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Fiscal constraints and the speed of transition.

A model of the process of reallocation of resources from a declining state sector to an expanding private sector is derived. It is demonstrated that the transition is costly in that it involves unemployment and a deterioration of the fiscal balance. In addition, an examination of the interaction o...

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Published in:Journal of Development Economics Vol. 52; pp. 221 - 250
Main Authors: Chadha, Bankim, Coricelli, Fabrizio
Format: Article
Published: Elsevier Science February 1997
Subjects:
Resource allocation > Mathematical models
Central economic planning
Economic equilibrium
Unemployment
Economic change
Taxation
Budget deficits
Online Access:View this record in EBSCOhost