Economists began to worsen forecasts for Russia's GDP dynamics in 2020 due to the spread of coronavirus and falling oil prices. The international rating agency S&P expects Russia's entry into the recession this year. Given the support that the state will provide to companies and financial...

We consider a median voter model with uncertainty about how theeconomy functions. The distribution of income is exogenously given andthe provision of a public good is ¯nanced through a proportional tax.Voters and politicians do not know the true production function for thepublic good, but by...