Galli, Emma; Padovano, Fabio - In: Public Choice 113 (2002) 1-2, pp. 37-58
The paper assesses the relative explanatory power of the Keynesian, the optimal finance, the contingent liability and several public choice theories of the determinants of public deficits on Italian 1950-1998 data. A vector error correction model suggests that deficits are sensitive to...