The Political Economy of Budget Deficits:
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 last...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
1994
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 94/85 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | 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 last 20 years rather than before? We begin by discussing the "tax smoothing" model and conclude that this approach alone cannot provide complete answers to these questions. We will then proceed to a discussion of political economy models, which we organize in six groups: (i) models based upon opportunistic policymakers and naive voters with "fiscal illusion;" (ii) models of intergenerational redistributions; (iii) models of debt as a strategic variable, linking the current government with the next one; (iv) models of coalition governments; (v) models of geographically dispersed interests; and (vi) models emphasizing the effects of budgetary institutions. We conclude by briefly discussing policy implications |
| Beschreibung: | 1 Online-Ressource (48 p) |
| ISBN: | 1451850689 9781451850680 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:17Z |
| indexdate | 2024-07-10T09:35:24Z |
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| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Alesina, Alberto Verfasser aut The Political Economy of Budget Deficits Alesina, Alberto Washington, D.C International Monetary Fund 1994 1 Online-Ressource (48 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 94/85 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 last 20 years rather than before? We begin by discussing the "tax smoothing" model and conclude that this approach alone cannot provide complete answers to these questions. We will then proceed to a discussion of political economy models, which we organize in six groups: (i) models based upon opportunistic policymakers and naive voters with "fiscal illusion;" (ii) models of intergenerational redistributions; (iii) models of debt as a strategic variable, linking the current government with the next one; (iv) models of coalition governments; (v) models of geographically dispersed interests; and (vi) models emphasizing the effects of budgetary institutions. We conclude by briefly discussing policy implications Online-Ausg Perotti, Roberto Sonstige oth http://elibrary.imf.org/view/IMF001/07224-9781451850680/07224-9781451850680/07224-9781451850680.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Alesina, Alberto The Political Economy of Budget Deficits |
| title | The Political Economy of Budget Deficits |
| title_auth | The Political Economy of Budget Deficits |
| title_exact_search | The Political Economy of Budget Deficits |
| title_exact_search_txtP | The Political Economy of Budget Deficits |
| title_full | The Political Economy of Budget Deficits Alesina, Alberto |
| title_fullStr | The Political Economy of Budget Deficits Alesina, Alberto |
| title_full_unstemmed | The Political Economy of Budget Deficits Alesina, Alberto |
| title_short | The Political Economy of Budget Deficits |
| title_sort | the political economy of budget deficits |
| url | http://elibrary.imf.org/view/IMF001/07224-9781451850680/07224-9781451850680/07224-9781451850680.xml |
| work_keys_str_mv | AT alesinaalberto thepoliticaleconomyofbudgetdeficits AT perottiroberto thepoliticaleconomyofbudgetdeficits |