Towards micropolitical foundations of public finance
AbstractObserved fiscal policy reflects the incentives embedded in political institutions. In this paper, we illustrate the effects of two general institutional features: separation of powers, which is common in Presidential-Congressional political systems, and legislative cohesion, which is typical of parliamentary systems. Compared to a simple legislative game, separation of powers brings about a smaller size of government and lower waste, whereas legislative cohesion induces a more equal distribution, but more waste and higher taxes.
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Bibliographic InfoArticle provided by Elsevier in its journal European Economic Review.
Volume (Year): 42 (1998)
Issue (Month): 3-5 (May)
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Web page: http://www.elsevier.com/locate/eer
Other versions of this item:
- Torsten Persson & Gerard Roland & Guido Tabellini, . "Towards Micropolitical Foundations of Public Finance," Working Papers 119, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Torsten Persson & Gerard Roland & Guido Tabellini, .
"Separation of Powers and Political Accountability,"
100, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Persson, Torsten & Roland , Gérard & Tabellini, Guido, 1997.
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633, Stockholm University, Institute for International Economic Studies.
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- Torsten Persson & Gerard Roland & Guido Tabellini, . "Comparative Politics and Public Finance," Working Papers 114, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Persson, T. & Roland, G. & Tabellini, G., 1997. "Comparative Politics and Public Finance," Papers 633, Stockholm - International Economic Studies.
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879, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
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- Persson, Torsten, 1998. "Economic Policy and Special Interest Politics," Economic Journal, Royal Economic Society, vol. 108(447), pages 310-27, March.
- John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, vol. 50(1), pages 5-25, January.
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