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Policy Persistence

Author

Listed:
  • Stephen Coate
  • Stephen Morris

Abstract

Policy 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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Suggested Citation

  • Stephen Coate & Stephen Morris, "undated". "Policy Persistence," Penn CARESS Working Papers 8a66677895e9fcb3f6d813c0c, Penn Economics Department.
    • Handle: RePEc:cla:penntw:8a66677895e9fcb3f6d813c0c6f99b54
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    File URL: http://www.econ.upenn.edu/Centers/CARESS/
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    More about this item

    JEL classification:

    • 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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