Debt accumulation of democracies facing low interest rate and election uncertainty.

• Main Author: Li, Yunong.
• Other Authors: School of Humanities and Social Sciences
• Format: Final Year Project
• Language: English
• Published: 2011
• Subjects: DRNTU::Social sciences::Economic theory
• Online Access: http://hdl.handle.net/10356/44355
• Institution: Nanyang Technological University

Intergenerational redistribution theory of fiscal policy and the tax-smoothing theory of fiscal policy are extremely valuable, as a matter of fact any positive model of fiscal policy begins with intergenerational distribution and tax smoothing as a benchmark. Yet neither of them manages to explain t...