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What is Political Economy of Budget Deficits about?

The lecture discusses the political economy of budget deficits, emphasizing the interplay between fiscal policy and political motivations. It highlights how governments may run deficits as a tool for intertemporal consumption smoothing, particularly during economic downturns, while also addressing the influence of political opportunism and institutional constraints on fiscal behavior. The document concludes that long-term deficits are often driven by political fragmentation and ideological differences among

Author

hbaecon

Language

EN