Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/85983
Authors: 
Frijters, Paul
Tieman, Alexander F.
Year of Publication: 
2001
Series/Report no.: 
Tinbergen Institute Discussion Paper 01-008/3
Abstract: 
In this paper it is argued that the slowness of the legislativesystem implies pre-commitment of legislation for at least the periodit takes to change a law. A simple model illustrates the benefit ofthis pre-commitment.
Subjects: 
time-inconsistency
legislation
irreversible investments
JEL: 
D70
E61
F41
K40
Document Type: 
Working Paper

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