The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Arrears

  • Mark E. Schaffer
Reference work entry
DOI: https://doi.org/10.1057/978-1-349-95189-5_2102

Abstract

Arrears, in both common and general economic parlance, are overdue payments of any sort. The comparative economics literature has focused on the large-scale arrears of all sorts that emerged when central and eastern Europe and the former USSR began the transition to market economies. Soft budget constraints have been invoked in explanations of the growth of overdue trade credit or ‘inter-enterprise arrears’ in early transition, and in analyses of arrears to banks and tax arrears; studies of wage arrears in transition economies have focused on differential impacts across workers and firms and on weak institutions.

Keywords

Arrears Inter-enterprise arrears Soft budget constraint Tax arrears Trade credit arrears Transition economies Wage arrears 

JEL Classifications

P3 
This is a preview of subscription content, log in to check access

Bibliography

  1. Earle, J.S., and K.Z. Sabirianova. 2002. How late to pay? Understanding wage arrears in Russia. Journal of Labor Economics 20: 661–707.CrossRefGoogle Scholar
  2. Higgs, H. (ed.). 1925. Palgrave’s dictionary of political economy. London: Macmillan and Co.Google Scholar
  3. Ickes, B.W., and R. Ryterman. 1992. The interenterprise arrears crisis in Russia. PostSoviet Affairs (Formerly Soviet Economy) 8: 331–361.Google Scholar
  4. Lehmann, H., J. Wadsworth, and A. Acquisti. 1999. Grime and punishment: Job insecurity and wage arrears in the Russian Federation. Journal of Comparative Economics 27: 595–617.CrossRefGoogle Scholar
  5. Perotti, E.C. 1998. Inertial credit and opportunistic arrears in transition. European Economic Review 42: 1703–1725.CrossRefGoogle Scholar
  6. Schaffer, M.E. 1998. Do firms in transition economies have soft budget constraints? A reconsideration of concepts and evidence. Journal of Comparative Economics 26: 80–103.CrossRefGoogle Scholar

Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Mark E. Schaffer
    • 1
  1. 1.