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This paper reports the results from a laboratory experiment designed to study political distortions in the accumulation … debt associated with larger majority requirements. Also in line with the theory, we find that debt is lower when the …
Persistent link: https://www.econbiz.de/10012986701
Some public goods are provided entirely with private contributions, others with a mixture of public and private funding, and still others are entirely publicly funded. To explain this variation, a model of dual provision is developed that endogenizes public and private funding. Members of the...
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The current debate in Western Europe centers on the relationship between economic and political integration. To address this problem, we construct a simple general equilibrium model in which the returns to trading are directly affected by the availability of a public good. In our model,...
Persistent link: https://www.econbiz.de/10013138063
We provide a potential explanation for the absence of, and unwillingness to create, centralized power in the hands of a national state based on the political agenda effect. State centralization induces citizens of different backgrounds, interests, regions or ethnicities to coordinate their...
Persistent link: https://www.econbiz.de/10012991695
theory of a proprietary fiscal authority whose objective is to extract rents for the political establishment, the proprietor …
Persistent link: https://www.econbiz.de/10013227894