A Behavioural Model of Government Budget Deficits
AbstractThis paper stresses the need for a behavioral-theoretic explanation of budget deficits. From that perspective, the existing literature is evaluated. Using Frans A. A. M. Van Winden's interest function approach, a formal model is developed in which government expenditure, the tax rate, and the budget deficit are simultaneously determined. Using this model, the paper analyzes the impact on budget deficits of the preferences of different social groups; the social power configuration; the time horizon of the state; the interest rate; and the time pattern of national income.
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Bibliographic InfoArticle provided by in its journal Public Finance = Finances publiques.
Volume (Year): 45 (1990)
Issue (Month): 1 ()
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- Julia Darby & Chol-Won Li & Anton Muscatelli, 2000.
"Political Uncertainty, Public Expenditure and Growth,"
CESifo Working Paper Series
310, CESifo Group Munich.
- Darby, Julia & Li, Chol-Won & Muscatelli, V. Anton, 2004. "Political uncertainty, public expenditure and growth," European Journal of Political Economy, Elsevier, vol. 20(1), pages 153-179, March.
- V. Anton Muscatelli & Julia Darby & Chol-Won Li, . "Political Uncertainty, Public Expenditure and Growth," Working Papers 9822, Business School - Economics, University of Glasgow.
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