Add to ORKGWhen a stabilization has significant distributional implications (e.g., tax increases to eliminate a large budget deficit), socioeconomic groups may attempt to shift the burden of stabilization onto other groups. The process leading to stabilization becomes a "war of attrition," each group attempting to wait the others out and stabilization occurring only when one group concedes and bears a disproportionate share of the burden. We solve for the expected time of stabilization in a model of "rational" delay and relate it to several political and economic variables. We motivate this approach and its results by comparison to historical and current episodes.Economic
This paper tries to explain why high inflation levels persist during long periods of time, in severa...
This paper is a study of the history of the transplant of mathematical tools using negative feedback...
This paper shows that exchange rate alignments are also used for the redistribution of income among ...
When a stabilization has significant distributional implications (as in the case of tax increases to...
Why do countries delay stabilizations of large and increasing budget deficits and inflation? And wha...
In some new political economic models, delays of stabilizations generally result from some sort of ...
The author explains how recent developments in political economics improve our understanding of macr...
In some new political economic models, delays of stabilizations result from coordination problems ca...
Why do countries delay stabilizations of large and increasing budget deficits and inflation? And wha...
In the last two decades the economic policy of several developing countries has often been character...
This paper addresses the question how the expectation of unconditional external shocks like foreign ...
This paper analyses the effects of International Monetary Fund (IMF) arrangements on the timing of i...
This paper analyzes the effects of International Monetary Fund (IMF) arrangements on the timing of i...
This paper illustrates how delayed debt stabilizations can arise in a society without any emerging ...
This paper studies the effect of foreign aid on economic stabilization. Following Alesina and Drazen...
This paper tries to explain why high inflation levels persist during long periods of time, in severa...
This paper is a study of the history of the transplant of mathematical tools using negative feedback...
This paper shows that exchange rate alignments are also used for the redistribution of income among ...
When a stabilization has significant distributional implications (as in the case of tax increases to...
Why do countries delay stabilizations of large and increasing budget deficits and inflation? And wha...
In some new political economic models, delays of stabilizations generally result from some sort of ...
The author explains how recent developments in political economics improve our understanding of macr...
In some new political economic models, delays of stabilizations result from coordination problems ca...
Why do countries delay stabilizations of large and increasing budget deficits and inflation? And wha...
In the last two decades the economic policy of several developing countries has often been character...
This paper addresses the question how the expectation of unconditional external shocks like foreign ...
This paper analyses the effects of International Monetary Fund (IMF) arrangements on the timing of i...
This paper analyzes the effects of International Monetary Fund (IMF) arrangements on the timing of i...
This paper illustrates how delayed debt stabilizations can arise in a society without any emerging ...
This paper studies the effect of foreign aid on economic stabilization. Following Alesina and Drazen...
This paper tries to explain why high inflation levels persist during long periods of time, in severa...
This paper is a study of the history of the transplant of mathematical tools using negative feedback...
This paper shows that exchange rate alignments are also used for the redistribution of income among ...