The aim of this article is to survey the huge literature that has emerged in the last four
decades following Nordhaus's (Rev Econ Stud 42 (2): 169–190, 1975) publication on …

This chapter critically reviews the literature which explains why and under which
circumstances governments accumulate more debt than it would be consistent with optimal …

A Financial Times Best Book of the Year" A must-read, with key lessons for the future."—
Thomas Piketty A groundbreaking examination of austerity's dark intellectual origins. For …

Fiscal rule frameworks have evolved significantly in response to the global financial crisis.
Many countries have reformed their fiscal rules or introduced new ones with a view to …

We study the relationship between politics and economic growth in a simple model of
endogenous growth with distributive conflict among agents endowed with varying …

Fiscal rules are laws aimed at reducing the incentive to accumulate debt, and many
countries adopt them to discipline local governments. Yet, their effectiveness is disputed …

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 …

This paper investigates the relationship between political instability and per capita GDP
growth in a sample of 113 countries for the period 1950 through 1982. We define political …

" Magnificent."—The Economist From the Nobel Prize–winning economist, a groundbreaking
and comprehensive account of corporate finance Recent decades have seen great …

When a stabilization has significant distributional implications (as in the case of tax
increases to eliminate a large budget deficit) different socio-economic groups will attempt to …