Magical Tome

The outer archives are busy
"Many countries, especially developing ones, follow procyclical fiscal polices, namely spending goes up (taxes go down) in booms and spending goes down (taxes go up) in recessions. We provide an explanation for this suboptimal fiscal policy based upon political distortions and incentives for less-than-benevolent government to appropriate rents. Voters have incentives similar to the "starving the Leviathan" classic argument, and demand more public goods or fewer taxes to prevent governments from appropriating rents when the economy is doing well. We test this argument against more traditional explanations based purely on borrowing constraints, with a reasonable amount of success"--National Bureau of Economic Research web site.
Create a free account to see Match Scores on books the community has marked — once you’ve set your preferences.
Create free accountMarks left by readers of this tome
No community marks yet — be the first to inscribe this tome.
Pacing
Horror / Dark Elements
Romance
Spice Level
LGBTQ+ Representation
Social & Political Themes in Stories