Externalities. Incentives, and Economic Reforms.
The paper emphasizes the role of institutions and incentives in the presence of externalities. An economy with multiple public decision makers is likely to experience 'overspending,' 'undertaxing,' 'overborrowing,' and 'overinflation' unless effective institut...
| Corporate Author: | |
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| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
1990.
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| Series: | IMF Working Papers; Working Paper ;
No. 1990/010 |
| Online Access: | Full text available on IMF |