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The soft budget constraint

An introductory study to volume IV of the Life’s Work series

Acta Oeconomica
Author: János Kornai

1165 1182 Lizal, L. - Svejnar, J. (2002): Investment, Credit Rationing, and the Soft Budget Constraint: Evidence from Czech Panel Data. Review of Economics and Statistics , 84

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, M. (2003): The Role of FDI, R&D Accumulation and Trade in Transferring Technology to Transition Countries: Evidence from Firm Panel Data for Eight Transition Countries. Economic Systems , 27(2): 189

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People’s Choice . New York : Columbia University Press . Lohse , G. L. – Bellman , S. ( 2000 ): Consumer Buying Behavior on the Internet: Findings from Panel Data . Journal of

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. - Szanyi, M. (2009): The Concentric-Circle Model of FDI Spillover Effects: Estimation Using Hungarian Panel Data. IER Discussion Paper A521, Institute of Economic Research, Hitotsubashi University. Szanyi M

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-country or panel data and made use of GDP as the dependent variable. The selection of variables for this study took these empirical studies into consideration; however, our final model is based on the objectives of this study and the availability of data. We

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endogeneity bias since the unobserved panel-level effects can be correlated with the lags of the dependent variable. One can use the dynamic panel data system estimator developed by Arellano-Bover/Blundell-Bond, using GMM estimation on first differenced

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, even though the method is quite limited in capturing longer-term effects. Our model is based on Falagiarda and Reitz (2015) . These authors employed a similar set of panel data to examine the impact of the ECBs quantitative easing programs. They

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The calculations were based on the panel data of the EPC (Economic Policy Committee) OGWG (Output Gap Working Group) database. The former provides detailed data on potential growth and its factors, including quantity of labour and productivity. Based

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. ( 2013 ): Internal Debt and Multinational Profit Shifting: Empirical Evidence from Firm-Level Panel Data . National Tax Journal 66 ( 1 ): 63 - 96 . 10.17310/ntj.2013.1.03 Bradbury , D. – Hanappi , T. – Moore , A. ( 2018 ): Estimating the

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): Monthly Decision Maker Panel Data – June 2020 . http://www.bankofengland.co.uk/decision-maker-panel/2020/june-2020 , accessed 09/07/2020 . BloombergNEF

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