by Vitor Gaspar, Sanjeev Gupta, and Carlos Mulas-Granados, editors
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Publication year: 2017
Cdn: $52.00; US: $40.00
Two main themes of the book are that (1) politics can distort optimal fiscal policy through elections and through political fragmentation, and (2) rules and institutions can attenuate the negative effects of this dynamic. The book has three parts: part 1 (9 chapters) outlines the problems; part 2 (6 chapters) outlines how institutions and fiscal rules can offer solutions; and part 3 (4 chapters) discusses how multilevel governance frameworks can help.
"It is now widely accepted that understanding fiscal policy requires understanding economics and politics. This valuable volume is rooted in political economy and covers a range of first-order issues which will be of interest to both researchers and policy makers."
- Timothy J. Besley, Professor, London School of Economics
"You can’t understand fiscal policy if you don’t consider the politics behind it. This book will greatly help you to navigate this complex territory. A splendid and broad ranging contribution."
- Alberto Alesina, Professor, Harvard University