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benchmark, mutatis mutandis. In the end, full convergence is established, from a pure democracy ruled through the de jure power …
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This paper considers an economy in which policymakers with different preferences concerning fiscal policy alternate in office as a result of democratic elections. It is shown that in this situation government debt becomes a strategic variable used by each policymaker to influence the choices of...
Persistent link: https://www.econbiz.de/10013323574
This paper considers an economy in which policymakers with different preferences concerning fiscal policy alternate in office as a result of democratic elections. It is shown that in this situation government debt becomes a strategic variable used by each policymaker to influence the choices of...
Persistent link: https://www.econbiz.de/10012476760