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Budget Processes and Commitment to Fiscal Discipline

International Monetary Fund - 1996

This paper develops a political-economy model of the budget process focusing on the common pool problem of the public budget. We show that the externality arising from the fact that public spending tends to be targeted at individual groups in society while the tax burden is widely dispersed...

Persistent link: https://www.econbiz.de/10014398060

Optimal prudential regulation of banks and the political economy of supervision

Tressel, Thierry; Verdier, Thierry - 2014

Persistent link: https://www.econbiz.de/10010388760

A Political Agency Theory of Central Bank Independence

Eggertsson, Gauti B. - 2003

We propose a theory to explain why, and under what circumstances, a politician gives up rent and delegates policy tasks … to an independent agency. We apply this theory to monetary policy by extending a standard dynamic ""New …-Keynesian"" stochastic general equilibrium model. This model gives a new theory of central bank independence that is unrelated to the …

Persistent link: https://www.econbiz.de/10014400234

The Political Economy of Redistributive Social Security

Pestieau, Pierre - 1999

Population aging puts significant pressure on social security systems that are based mainly on a pay-as-you-go (PAYG) formula and determined by the political process in which both retirees and future retirees participate. This paper demonstrates that in an economic and demographic steady state,...

Persistent link: https://www.econbiz.de/10014400549

Rent Seeking

Chakraborty, Shankha - 2005

This paper examines the relationship between rent seeking and economic performance when governments cannot enforce property rights. With imperfect credit markets and a fixed cost of rent seeking, only wealthy agents choose to engage in it, since it enables them to protect their wealth from...

Persistent link: https://www.econbiz.de/10014401029

Votingon the ""Optimal"" Size of Government

Olters, Jan-Peter - 2000

Viewing fiscal policies as the outcome of democratically resolved conflicts of households over public goods and taxes, the “economic model of politics” proposes a public choice approach, which does not rely on social welfare functions. With it, a country’s overall budget can be derived...

Persistent link: https://www.econbiz.de/10014403510

The Political Economy of Budget Deficits

Alesina, Alberto - 1994

This paper provides a critical survey of the literature on politico-institutional determinants of the government budget. We organize our discussion around two questions: Why did certain OECD countries, but not others, accumulate large public debts? Why did these fiscal imbalances appear in the...

Persistent link: https://www.econbiz.de/10014396523

A Political-Economic Model of the Choice of Exchange Rate Regime

Sun, Yan - 2002

Facing electoral uncertainty, a government chooses its exchange regime in a trade-off among three incentives: (i) tying the hands of its opponent should it lose the election; (ii) facilitating its own future policy implementation should it win the election; and (iii) increasing its chance of...

Persistent link: https://www.econbiz.de/10014399538

A Noteon the Public Choice Approach to the Growth in Government Expenditure

International Monetary Fund - 1988

The paper applies an empirical model, based on the economic theory of public choice, to the Group of Seven countries …

Persistent link: https://www.econbiz.de/10014395824

Candidate Entry, Screening, and the Political Budget Cycle

Le Borgne, Eric - 2002

We investigate whether private information about citizens'' competence in political office can be revealed by their entry and campaign expenditure decisions. We find that this depends on whether voters and candidates have common or conflicting interests; only in the former case can entry be...

Persistent link: https://www.econbiz.de/10014399613

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