Public debt accumulation and institutional quality: can corruption improve welfare?

被引：0
|
作者：
Faure, Pierre [1 ]
机构：
[1] Univ Montesquieu, Larefi, Bordeaux 4, France
来源：
ECONOMICS BULLETIN | 2011年 / 31卷 / 01期
关键词：
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
Corruption can enhance welfare in two complementary ways in a dynamic time inconsistency model: first, by mitigating the inflation bias of discretionary monetary policy; second, by reducing the loss due to the suboptimal distribution of distortions associated with public debt accumulation. The note thus proposes an original explanation of the existence of weak public governance in countries whose monetary regime lacks credibility.
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页码：17 / 28
页数：12
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