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| Author: | Lizzeri, A. |
| Title: | Budget deficits and redistributive politics |
| Journal: | Review of Economic Studies
1999 : OCT, VOL. 66(4):229, p. 909-928 |
| Index terms: | ECONOMICS BUDGET POLITICS |
| Language: | eng |
| Abstract: | This paper proposes a new view of the forces in the political process that cause governments to accumulate debt. The analysis builds on a model of redistributive politics that, contrary to median voter models, does not restrict the set of policies that politicians can propose. The author shows that deficits occur even in en environment where voters (and periods) are homogenous. This is an environment where previous political theories of debt would predict budget balance. |
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