Policy Cooperation Among Benevolent Governments May Be Undesirable

Patrick Kehoe

The Review of Economic Studies, 1989, vol. 56, issue 2, 289-296

Abstract: This paper presents a simple counterexample to the belief that policy cooperation among benevolent governments is desirable. It also explains circumstances under which such counter-examples are possible and relates them to the literature on time inconsistency.

Date: 1989
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Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:56:y:1989:i:2:p:289-296.

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