AbstractPolicy persistence refers to the tendency of the political process to maintain policies once they have been introduced. This paper develops a theory of policy persistence based on the idea that policies create incentives for beneficiaries to take actions which increase their willingness to pay for these policies in the future. The theory is used to show that policy persistence may lead to political failure, in the sense that policy sequences arising in political equilibrium can be Pareto dominated.
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Bibliographic InfoPaper provided by Penn Economics Department in its series Penn CARESS Working Papers with number 8a66677895e9fcb3f6d813c0c6f99b54.
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- Stephen Coate & Stephen Morris, . ""Policy Persistence ''," CARESS Working Papres 95-19, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- Stephen Coate & Stephen Morris, . "Policy Persistence," CARESS Working Papres 97-2, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
- E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
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