BEGIN:VCALENDAR
PRODID:-//Columba Systems Ltd//NONSGML CPNG/SpringViewer/ICal Output/3.3-
 M3//EN
VERSION:2.0
CALSCALE:GREGORIAN
METHOD:PUBLISH
BEGIN:VEVENT
DTSTAMP:20231127T101606Z
DTSTART:20231129T170000Z
DTEND:20231129T180000Z
SUMMARY:MET Seminar - Alessia Russo (Padova)
UID:{http://www.columbasystems.com/customers/uom/gpp/eventid/}r1tm-llw4zp
 8j-akmbyk
DESCRIPTION:Title: PublicDebt and Growth in a Democracy with Partisan Pol
 itics (joint with SergioCappellini and Francesco Lancia) \n\nAbstract: W
 estudy the strategic relationship between public productive investments 
 and porkbarrel spending\, along with public debt\, in the presence of pa
 rtisan conflicts.Using a probabilistic voting framework without future p
 olicy commitments\, wefind that partisan conflicts lead to divergent pol
 icy platforms and prevent theeconomy from converging to an immiseration 
 regime. In the Markov-perfectpolitico-economic equilibrium\, the party b
 iased towards more public investmentsdisplays less discipline than the p
 arty favoring pork barrel spending. Highergrowth generated by public inv
 estments increases the endogenous debt limit\,leading to more indebtedne
 ss and reduced public spending in the long run. Ourfindings help explain
  the coexistence of rising debt and political cyclesobserved in democrat
 ic countries.\n\nManchester Economic Theory (MET) schedule: http://david
 delacretaz.net/seminars/\n\nSpeaker website: https://alessiarussoecon.we
 ebly.com/
STATUS:TENTATIVE
TRANSP:TRANSPARENT
CLASS:PUBLIC
LOCATION:Boardroom 2.016\, Arthur Lewis Building\, Manchester
END:VEVENT
END:VCALENDAR