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Short-to medium-term residual effects

In: Law and the Limits of Government

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Why do legislatures pass laws that automatically expire? Why are so many tax cuts sunset? In this first book-length treatment of those questions, the author explains that legislatures pass laws temporarily in order to reduce opposition from the citizenry, to increase the level of information revealed by lobbies, and to externalize the political costs of changing the tax code on to future legislatures. This book provides a careful analysis which does not normatively prescribe either permanent or temporary legislation in every instance, but rather specifies the conditions for which either permanent or temporary legislation would maximize social welfare.

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  • ., 2013. "Short-to medium-term residual effects," Chapters, in: Law and the Limits of Government, chapter 2, pages 10-34, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14644_2
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    File URL: https://www.elgaronline.com/view/9780857938657.00010.xml
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    Cited by:

    1. Nicholas Crafts & Alan Hughes, 2013. "Industrial Policy for the Medium to Long-term," Working Papers wp455, Centre for Business Research, University of Cambridge.

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    Economics and Finance; Law - Academic;

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