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

Author

Listed:
  • Javier A. Gutierrez

    (Secretaría de Hacienda de Bogotá)

  • Carolina Guzmán

    (Secretaría de Hacienda de Bogotá)

  • Ulpiano J. Jiménez

    (Secretaría de Hacienda de Bogotá)

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).

Suggested Citation

  • Javier A. Gutierrez & Carolina Guzmán & Ulpiano J. Jiménez, 2000. "Economía política y finanzas públicas: teoría, evidencia y resultados de laboratorio," Revista de Economía Institucional, Universidad Externado de Colombia - Facultad de Economía, vol. 2(3), pages 104-148, July-dece.
    • Handle: RePEc:rei:ecoins:v:2:y:2000:i:3:p:104-148
    as

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    File URL: http://www.uexternado.edu.co/facecono/ecoinstitucional/workingpapers/jgutierrez3.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    experimental economics; public finances; fiscal deficit; principal-agent;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • H72 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Budget and Expenditures

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