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Voting on the Budget Deficit

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  • Guido Tabellini

    (UCLA)

  • Alberto Alesina

    (Harvard University)

Abstract

This paper analyzes a model in which a group of rational individuals votes over the composition and time profile of public spending. All voters agree that a balanced budget is ex ante optimal. However, if there is disagreement between current and future majorities, a balanced budget is not a political equilibrium under majority rule. Under certain conditions, a majority of the voters favors a budget deficit, and the equilibrium deficit is larger the greater is the polarization among voters. Copyright 1990 by American Economic Association.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Guido Tabellini & Alberto Alesina, 1988. "Voting on the Budget Deficit," UCLA Economics Working Papers 539, UCLA Department of Economics.
    • Handle: RePEc:cla:uclawp:539
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