Creedy, John; Li, Shuyun May; Moslehi, Solmaz - Department of Economics, Faculty of Business and Economics - 2009
This paper examines the choice of government expenditure on public goods and transfer payments (in the form of pension) under majority voting in an overlapping generations model, in which government expenditure is tax-?nanced on a pay-as-you-go (PAYG) basis. The condition required for majority...