| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10374 |
| DP10374 Volatility and Political Institutions: Theory and Application to Economic Growth | |
| Tim Besley; Hannes Mueller | |
| 发表日期 | 2015-01-25 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | This paper develops a model where an institutional constraint limits incumbent discretion to prevent adverse policy outcomes. We show that, in this framework, executive constraints have an impact on the mean and variance of policy. This allows us to interpret the empirical observation that growth volatility is lower in countries with strong executive constraints. We ?t the model to growth data and use our estimates to describe the heterogeneity in performance of weak and strong executive constraints across countries. This is used to illustrate the heterogeneous output response to the adoption of strong executive constraints. We then use the fitted values to consider the benefits of strong executive constraints in income terms. |
| 主题 | Public Economics |
| 关键词 | Executive constraints Growth Robust control |
| URL | https://cepr.org/publications/dp10374 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539205 |
| 推荐引用方式 GB/T 7714 | Tim Besley,Hannes Mueller. DP10374 Volatility and Political Institutions: Theory and Application to Economic Growth. 2015. |
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