search query: @author Woo, J. / total: 3
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| Author: | Woo, J. |
| Title: | Social polarization, fiscal instability and growth |
| Journal: | European Economic Review
2005 : AUG, VOL. 49:6, p. 1451-1477 |
| Index terms: | fiscal policy social policy volatility growth models |
| Language: | eng |
| Abstract: | This study presents a dynamic model of fiscal (hereafter as: f.) policy in a simple growth framework where social polarization (of preferences, here as: soc-polrz.) plays a central role in the evolution of f. instability (here as: inst-y.) and growth collapse. A f. inst-y. channel is offered negatively linking soc-polrz. and growth, which is an alternative yet distinct explanation for the empirical finding that soc-polrz. is harmful to growth. Polarization and political uncertainty are shown to be distinct yet critical to the dynamic coordination failure in the common pool setting. |
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