MODELE ZADŁUŻENIA PUBLICZNEGO ODWOŁUJĄCE SIĘ DO TYPU INSTYTUCJI POLITYCZNYCH

Abstract

The paper presents models o f public debt where their level and dynamics is related to different national political institutions. These institutions may influence public choices of political decision-makers and the character o f their interactions. Differences between national political institutions in different countries may explain cross-country differences in budget deficits and public debt. The paper surveys a number of models, including models of fragmented governments, the common pool model, or model of geographically dispersed interests.