Political Economics
Explaining Economic Policy
By Guido Tabellini, Torsten Persson | Publisher: MIT Press
About the book
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 deficits, and the stance of monetary policy during the course of business and electoral cycles? A large and rapidly growing literature in political economics attempts to answer these questions. But so far there is little consensus on the answers and disagreement on the appropriate mode of analysis.
Combining the best of three separate traditions—the theory of macroeconomic policy, public choice, and rational choice in political science—Torsten Persson and Guido Tabellini suggest a unified approach to the field. As in modern macroeconomics, individual citizens behave rationally, their preferences over economic outcomes inducing preferences over policy. As in public choice, the delegation of policy decisions to elected representatives may give rise to agency problems between voters and politicians. And, as in rational choice, political institutions shape the procedures for setting policy and electing politicians. The authors outline a common method of analysis, establish several new results, and identify the main outstanding problems.
Editions of Political Economics
- Hardcover
- ISBN 9780262161954
- Paperback
- ISBN 9780262661317
- EBook
- ISBN 9780262281454
- EBook
- ISBN 9780262303668
- EBook
- ISBN 9780262332743
Read an Excerpt
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 deficits, and the stance of monetary policy during the course of business and electoral cycles? A large and rapidly growing literature in political economics attempts to answer these questions. But so far there is little consensus on the answers and disagreement on the appropriate mode of analysis.
Combining the best of three separate traditions—the theory of macroeconomic policy, public choice, and rational choice in political science—Torsten Persson and Guido Tabellini suggest a unified approach to the field. As in modern macroeconomics, individual citizens behave rationally, their preferences over economic outcomes inducing preferences over policy. As in public choice, the delegation of policy decisions to elected representatives may give rise to agency problems between voters and politicians. And, as in rational choice, political institutions shape the procedures for setting policy and electing politicians. The authors outline a common method of analysis, establish several new results, and identify the main outstanding problems.
Frequently Asked Questions
What is Political Economics about?
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 deficits, and the stance of monetary policy during the course of business and electoral cycles? A large and rapidly growing literature in political economics attempts to answer these questions. But so far there is little consensus on the answers and disagreement on the appropriate mode of analysis.
Combining the best of three separate traditions—the theory of macroeconomic policy, public choice, and rational choice in political science—Torsten Persson and Guido Tabellini suggest a unified approach to the field. As in modern macroeconomics, individual citizens behave rationally, their preferences over economic outcomes inducing preferences over policy. As in public choice, the delegation of policy decisions to elected representatives may give rise to agency problems between voters and politicians. And, as in rational choice, political institutions shape the procedures for setting policy and electing politicians. The authors outline a common method of analysis, establish several new results, and identify the main outstanding problems.
What core themes, tropes, or subjects are explored in Political Economics?
Economics, Finance, Business and Management > Economics
Where can I read a sample of Political Economics?
You can read an official preview of the few pages here https://www.book2look.com/book/9780262161954
Is Political Economics part of a series, and can it be read as a standalone?
Yes it is a part of series Zeuthen Lectures
Who is/are the Author/s of the book Political Economics?
Guido Tabellini, Torsten Persson
Who is the Publisher of the book Political Economics?
MIT Press
What are the ISBN numbers for the physical and digital editions?
Political Economics is available as hardcover(ISBN 9780262161954) and paperback(ISBN 9780262661317) and ebook(ISBN 9780262281454) and ebook(ISBN 9780262303668) and ebook(ISBN 9780262332743)
Where can I buy Political Economics online or support local independent bookshops?
You can buy Political Economics from below
Where can I buy Political Economics?