Abstract
The Model and its Novelties. We have presented a two-period model of political economy in which the government in power in the first period levies taxes and sells bonds to produce a public good. The government in the second period levies taxes to repay the debt to the individual savers and produce some public good. Between the periods consumers are asked to vote the party that will reign in the second period.
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© 1998 Springer-Verlag Berlin Heidelberg
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de Wolff, J. (1998). Conclusions. In: The Political Economy of Fiscal Decisions. Contributions to Economics. Physica, Heidelberg. https://doi.org/10.1007/978-3-642-58993-5_7
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DOI: https://doi.org/10.1007/978-3-642-58993-5_7
Publisher Name: Physica, Heidelberg
Print ISBN: 978-3-7908-1130-8
Online ISBN: 978-3-642-58993-5
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