Delfgaauw, Josse; Swank, Otto H. - 2023
commitment. We study policymakers' incentives to commit. A policymaker decides on a policy to encourage citizens to make … redistributive concerns to the trade-off between commitment and flexibility. When a majority of citizens invest, redistributive … time-inconsistency problem. Then, the policymaker either commits too strongly or refrains from commitment altogether. …