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Rotten Parents and Disciplined Children: A Politico‐Economic Theory of Public Expenditure and Debt

Author Info

Listed author(s):
  • Zheng Song
  • Kjetil Storesletten
  • Fabrizio Zilibotti

Abstract

sufficiently large, the economy converges to a stationary debt level which is bounded away from the endogenous debt limit.

(This abstract was borrowed from another version of this item.)

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File URL: http://hdl.handle.net/10.3982/ECTA8910
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Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 80 (2012)
Issue (Month): 6 (November)
Pages: 2785-2803

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Handle: RePEc:ecm:emetrp:v:80:y:2012:i:6:p:2785-2803
DOI: ECTA8910
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Keywords:

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Find related papers by JEL classification:
  • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
  • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
  • H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
  • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
  • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

References listed on IDEAS
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  2. Alberto Alesina & Filipe R. Campante & Guido Tabellini, 2008. "Why is Fiscal Policy Often Procyclical?," Journal of the European Economic Association, MIT Press, vol. 6(5), pages 1006-1036, 09.
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  20. Per Pettersson-Lidbom, 2001. "An Empirical Investigation of the Strategic Use of Debt," Journal of Political Economy, University of Chicago Press, vol. 109(3), pages 570-583, June.
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  25. Feldstein, Martin, 1995. "Effect of Marginal Tax Rates on Taxable Income: A Panel Study of the 1986 Tax Reform Act," Scholarly Articles 2766676, Harvard University Department of Economics.
  26. Alessandro Gavazza & Alessandro Lizzeri, 2009. "Transparency and Economic Policy," Review of Economic Studies, Oxford University Press, vol. 76(3), pages 1023-1048.
  27. Hassler, John & Storesletten, Kjetil & Zilibotti, Fabrizio, 2007. "Democratic public good provision," Journal of Economic Theory, Elsevier, vol. 133(1), pages 127-151, March.
  28. Lindsey, Lawrence B., 1987. "Individual taxpayer response to tax cuts: 1982-1984 : With implications for the revenue maximizing tax rate," Journal of Public Economics, Elsevier, vol. 33(2), pages 173-206, July.
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Blog mentions

As found by EconAcademics.org, the blog aggregator for Economics research:
  1. Automatic fiscal discipline
    by Economic Logician in Economic Logic on 2009-07-20 18:55:00
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