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A Model of Endogenous Fiscal Deficits and Delayed Fiscal Reforms

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NBER1997-12-01 更新2025-01-04 收录
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https://www.nber.org/papers/w6336
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This paper develops a political-economic model of fiscal policy one in which" government resources are a common property' out of which interest groups can finance" expenditures on their preferred items. This setup has striking macroeconomic implications. " First, fiscal deficits and debt
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1997-12-01
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