Peletier, B.D.

investment budget period policy deficit capital borrowing rule binding debt rule budget deficit maker budget deficits policy maker policy makers party government model binding capital level office consumption borrowing alesina effect problem period 1 debt rule budget constraint future period 2 resource condition roubini constraint tabellini spending result amount uncertainty country behaviour voter analysis dollar review income section investment rule preference economy state solution distortion optimization problem period 2. paper order instrument intertemporal effects function utility jstor future resources value underinvestment adjustment voting ta model debt accumulation horizon model expense reason economic increase peletier shift american journal optimization welfare intertemporal