Policy Cooperation among Benevolent Governments May Be Undesirable
This paper presents a simple counterexample to the belief that policy cooperation among benevolent governments is desirable. It also explains circumstances under which such counterexamples are possible and relates them to the literature on time inconsistency. Copyright 1989 by The Review of Economic Studies Limited.
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Volume (Year): 56 (1989)
Issue (Month): 2 (April)
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