Debts and Deficits with Fragmented Fiscal Policymaking
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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. Transfers are higher than a benevolent
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美国国家经济研究局创建时间：
1997-11-01
