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Voting over Economic Plans

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Author Info
Boylan, Richard T
McKelvey, Richard D

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Abstract

The authors review and provide motivation for a one-sector model of economic growth in which decisions about capital accumulation are made by a political process. If it is possible to commit for at least three periods into the future, then, for any feasible consumption plan, there is a perturbation that is majority-preferred to it. Furthermore, plans that minimize the maximum vote that can be obtained against them yield a political business cycle. If it is impossible to commit, voters select the optimal consumption plan for the median voter. Copyright 1995 by American Economic Association.

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Publisher Info
Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 85 (1995)
Issue (Month): 4 (September)
Pages: 860-71
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Handle: RePEc:aea:aecrev:v:85:y:1995:i:4:p:860-71

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  1. Walter Hettich & Stanley L. Winer, 2000. "Rules, Politics and the Normative Analysis of Taxation," Carleton Economic Papers 00-12, Carleton University, Department of Economics. [Downloadable!]
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