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Time horizons in budgeting

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  • Daniel Tarschys

Abstract

Public policy-makers operate with all measures of time horizon. They make short-term decisions as well as investments intended to benefit several generations. Though popular myth and public choice theory concur that politicians have their eyes fixed on nothing but the next election, there is a great deal of evidence to the contrary. As a rule there is a blend of time-frames and perspectives in the same actor. Attention leaps back and forth between the proximate and the distant. In their time orientation, elected officials share the ambivalence and volatility of their electorates. “A week is a long time in politics”, Harold Wilson once famously claimed when accused of inconsistency...

Suggested Citation

  • Daniel Tarschys, 2003. "Time horizons in budgeting," OECD Journal on Budgeting, OECD Publishing, vol. 2(2), pages 77-103.
    • Handle: RePEc:oec:govkaa:5lmqcr2k19br
    DOI: 10.1787/budget-v2-art10-en
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    Cited by:

    1. Hultkrantz, Lars & A. Krüger, Niclas & Mantalos, Panagiotis, 2014. "Risk-adjusted long-term social rates of discount for transportation infrastructure investment," Research in Transportation Economics, Elsevier, vol. 47(C), pages 70-81.
    2. Jinqing Fang & Qiao Bi & Yong Li & Xin-Biao Lu & Qiang Liu, 2007. "Toward A Harmonious Unifying Hybrid Model For Any Evolving Complex Networks," Advances in Complex Systems (ACS), World Scientific Publishing Co. Pte. Ltd., vol. 10(02), pages 117-141.

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