Browsing FAS Scholarly Articles by Author "Campante, Filipe"
Now showing items 1-1 of 1
-
Why Is Fiscal Policy Often Procyclical?
Alesina, Alberto Francesco; Campante, Filipe Robin; Tabellini, Guido (Wiley-Blackwell, 2008)Fiscal policy is procyclical in many developing countries. We explain this policy failure with a political agency problem. Procyclicality is driven by voters who seek to “starve the Leviathan” to reduce political rents. ...