The political economy of fiscal decisions : the strategic role of public debt /

A ruling party decides each of two periods on the level of public goods which it finances by means of taxation and internal debt. The debt has to be honoured by the government of the second period. Between the two periods elections take place, which may change the ruling party. The book analyzes the...

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Bibliographic Details
Main Author: De Wolff, Jessica, 1964-
Corporate Author: SpringerLink (Online service)
Format: eBook
Language:English
Published: Heidelberg : New York : Physica-Verlag ; Springer-Verlag, [1998]
Series:Contributions to economics.
Subjects:
Online Access:Connect to the full text of this electronic book

MARC

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100 1 |a De Wolff, Jessica,  |d 1964- 
245 1 4 |a The political economy of fiscal decisions :  |b the strategic role of public debt /  |c Jessica de Wolff. 
264 1 |a Heidelberg :  |b Physica-Verlag ;  |a New York :  |b Springer-Verlag,  |c [1998] 
264 4 |c ©1998 
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490 1 |a Contributions to economics 
500 |a Originally presented as the author's thesis (doctoral)-- Technical University Berlin, 1998. 
504 |a Includes bibliographical references (pages [145]-150). 
505 0 |a The Evolution of Public Debt -- Literature Survey: The Political Economy of the Government Budget -- Introduction to the Model -- The Model -- The Implications for Fiscal Policy -- Conclusions. 
520 |a A ruling party decides each of two periods on the level of public goods which it finances by means of taxation and internal debt. The debt has to be honoured by the government of the second period. Between the two periods elections take place, which may change the ruling party. The book analyzes the fiscal decision of the first government which aims to maximize the long run utility of its representative voter. Conditions under which the government uses debt strategically in order to stay in power are identified. It is also shown how the fiscal decisions hinge on the populations' political structure and its beliefs about the future government. 
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