Political Economics

Explaining Economic Policy

Business & Finance, Economics
Cover of the book Political Economics by Guido Tabellini, Torsten Persson, The MIT Press
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Guido Tabellini, Torsten Persson ISBN: 9780262303668
Publisher: The MIT Press Publication: January 25, 2002
Imprint: The MIT Press Language: English
Author: Guido Tabellini, Torsten Persson
ISBN: 9780262303668
Publisher: The MIT Press
Publication: January 25, 2002
Imprint: The MIT Press
Language: English

What determines the size and form of redistributive programs, the extent and type of public goods provision, the burden of taxation across alternative tax bases, the size of government deficits, and the stance of monetary policy during the course of business and electoral cycles? A large and rapidly growing literature in political economics attempts to answer these questions. But so far there is little consensus on the answers and disagreement on the appropriate mode of analysis.

Combining the best of three separate traditions—the theory of macroeconomic policy, public choice, and rational choice in political science—Torsten Persson and Guido Tabellini suggest a unified approach to the field. As in modern macroeconomics, individual citizens behave rationally, their preferences over economic outcomes inducing preferences over policy. As in public choice, the delegation of policy decisions to elected representatives may give rise to agency problems between voters and politicians. And, as in rational choice, political institutions shape the procedures for setting policy and electing politicians. The authors outline a common method of analysis, establish several new results, and identify the main outstanding problems.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

What determines the size and form of redistributive programs, the extent and type of public goods provision, the burden of taxation across alternative tax bases, the size of government deficits, and the stance of monetary policy during the course of business and electoral cycles? A large and rapidly growing literature in political economics attempts to answer these questions. But so far there is little consensus on the answers and disagreement on the appropriate mode of analysis.

Combining the best of three separate traditions—the theory of macroeconomic policy, public choice, and rational choice in political science—Torsten Persson and Guido Tabellini suggest a unified approach to the field. As in modern macroeconomics, individual citizens behave rationally, their preferences over economic outcomes inducing preferences over policy. As in public choice, the delegation of policy decisions to elected representatives may give rise to agency problems between voters and politicians. And, as in rational choice, political institutions shape the procedures for setting policy and electing politicians. The authors outline a common method of analysis, establish several new results, and identify the main outstanding problems.

More books from The MIT Press

Cover of the book How Things Shape the Mind by Guido Tabellini, Torsten Persson
Cover of the book DIY Citizenship by Guido Tabellini, Torsten Persson
Cover of the book Neuroscience of Creativity by Guido Tabellini, Torsten Persson
Cover of the book Žižek's Jokes by Guido Tabellini, Torsten Persson
Cover of the book Rule of Law, Misrule of Men by Guido Tabellini, Torsten Persson
Cover of the book Robot-Proof by Guido Tabellini, Torsten Persson
Cover of the book Science in Democracy by Guido Tabellini, Torsten Persson
Cover of the book Language in Our Brain by Guido Tabellini, Torsten Persson
Cover of the book War Games by Guido Tabellini, Torsten Persson
Cover of the book The Interdisciplinary Science of Consumption by Guido Tabellini, Torsten Persson
Cover of the book Framing Internet Safety by Guido Tabellini, Torsten Persson
Cover of the book Open Access by Guido Tabellini, Torsten Persson
Cover of the book Traversals by Guido Tabellini, Torsten Persson
Cover of the book International Currency Exposure by Guido Tabellini, Torsten Persson
Cover of the book Aesthetics Equals Politics by Guido Tabellini, Torsten Persson
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy