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Political Economics : Explaining Economic Policy - Torsten Persson

Political Economics

Explaining Economic Policy

Paperback Published: 25th January 2002
ISBN: 9780262661317
Number Of Pages: 560
For Ages: 18+ years old

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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.

Series Foreword
Foreword
Preface
General Introductionp. 1
Tools of Political Economicsp. 15
Preferences and Institutionsp. 19
Electoral Competitionp. 47
Agencyp. 69
Partisan Politiciansp. 97
Redistributive Politicsp. 115
General-Interest Politicsp. 117
Special-Interest Politicsp. 159
Comparative Politicsp. 201
Electoral Rules and Electoral Competitionp. 205
Institutions and Accountabilityp. 225
Political Regimesp. 251
Dynamic Politicsp. 275
Dynamic Policy Problemsp. 277
Capital Taxationp. 305
Public Debtp. 345
Growthp. 373
Monetary Politicsp. 393
Credibility of Monetary Policyp. 397
Electoral Cyclesp. 419
Institutions and Incentivesp. 435
International Policy Coordinationp. 459
What Next?p. 479
Referencesp. 489
Author Indexp. 515
Subject Indexp. 521
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9780262661317
ISBN-10: 0262661314
Series: Zeuthen Lectures
Audience: Tertiary; University or College
For Ages: 18+ years old
Format: Paperback
Language: English
Number Of Pages: 560
Published: 25th January 2002
Publisher: MIT Press Ltd
Country of Publication: US
Dimensions (cm): 22.8 x 17.8  x 2.5
Weight (kg): 0.87