29 Ergebnisse
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In: Journal of economic dynamics & control, Band 140, S. 104317
ISSN: 0165-1889
In: Journal of international economics, Band 120, S. 162-178
ISSN: 0022-1996
In: Journal of Monetary Economics, Band 93, S. 114-131
In: International Economic Review, Band 59, Heft 2, S. 479-510
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Working paper
In: NBER Working Paper No. w22336
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Working paper
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In: NBER Working Paper No. w21273
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Working paper
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Working paper
In: FRB of Philadelphia Working Paper No. 13-43
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Working paper
In: FRB of Philadelphia Working Paper No. 13-41
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Working paper
In: American economic review, Band 101, Heft 5, S. 2182-2204
ISSN: 1944-7981
I present a tractable dynamic model of political economy where disagreements about the composition of public spending result in implementation of short-sighted policies. Excessive taxation reduces the return to physical capital and hence investment rates, which slows down growth along the transition. In the long run, output, consumption and welfare are inefficiently low. The larger is the degree of polarization, the greater is the inefficiency. Political stability mitigates the effects of polarization by making the incumbent internalize the dynamic inefficiencies introduced by the choice of growth-retarding policies. JEL: D72, E22, E23, E62, H25, O16, O17
In: Journal of Monetary Economics, Band 55, Heft 1, S. 152-158
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In: NBER Working Paper No. w31943
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