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Policy Cooperation Among Benevolent Governments May Be Undesirable

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  • Patrick J. Kehoe

Abstract

This paper presents a simple counterexample to the belief that policy cooperation among benevolent governments is desirable. It also explains circumstances under which such counter-examples are possible and relates them to the literature on time inconsistency.

Suggested Citation

  • Patrick J. Kehoe, 1989. "Policy Cooperation Among Benevolent Governments May Be Undesirable," Review of Economic Studies, Oxford University Press, vol. 56(2), pages 289-296.
  • Handle: RePEc:oup:restud:v:56:y:1989:i:2:p:289-296.
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