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Information and commitment

In: Law and the Limits of Government

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Abstract

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. "Information and commitment," Chapters, in: Law and the Limits of Government, chapter 4, pages 58-76, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:14644_4
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    Cited by:

    1. Alois S. Mlambo, 2017. "From an Industrial Powerhouse to a Nation of Vendors: Over Two Decades of Economic Decline and Deindustrialization in Zimbabwe 1990–2015," Journal of Developing Societies, , vol. 33(1), pages 99-125, March.

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    Economics and Finance; Law - Academic;

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