Economía política y finanzas públicas: teoría, evidencia y resultados de laboratorio

Javier A. Gutierrez, Carolina Guzmán and Ulpiano J. Jiménez
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Javier A. Gutierrez: Secretaría de Hacienda de Bogotá
Carolina Guzmán: Secretaría de Hacienda de Bogotá
Ulpiano J. Jiménez: Secretaría de Hacienda de Bogotá

Revista de Economía Institucional, 2000, vol. 2, issue 3, 104-148

Abstract: This paper summarizes theoretical models and empirical evidence concerning political economy of public finances. It emphasizes political and institutional issues that influence different levels of public debt and fiscal deficits in countries and subnational entities with similar economic performance, and describes fiscal contract relationships between governors and voters using principal-agent theory. It then applies methods of experimental economics and game theory, to evaluate how these relationships contribute in debt accumulation and fiscal unbalances, in a laboratory experiment in which participants act as agents (governors) and then as principals (voters).

Keywords: experimental economics; public finances; fiscal deficit; principal-agent (search for similar items in EconPapers)
JEL-codes: C70 C91 H72 (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:rei:ecoins:v:2:y:2000:i:3:p:104-148

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