Budget Processes and Commitment to Fiscal Discipline

Budget Processes and Commitment to Fiscal Discipline
This paper develops a political-economy model of the budget process focusing on the common pool problem of the public budget. We show that the externality arising from the fact that public spending tends to be targeted at individual groups in society while the tax burden is widely dispersed creates a bias towards excessive expenditures and debt.... READ MORE...

Publication date: July 1996
ISBN 9781451850079
$15.00

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