Future-biased government
| dc.contributor.author | Gonzalez, Francisco M. | |
| dc.contributor.author | Lazkano, Itziar | |
| dc.contributor.author | Smulders, Sjak A. | |
| dc.date.accessioned | 2026-07-14T14:29:12Z | |
| dc.date.available | 2026-07-14T14:29:12Z | |
| dc.date.issued | 2015-10 | |
| dc.description.abstract | We argue that governments are future biased when they aggregate the preferences of overlapping generations. Future bias, which involves preference reversals favoring future over current consumption, explains why governments legislate old-age transfers at the expense of capital accumulation and growth, even if generations are altruistic. | |
| dc.identifier.uri | https://hdl.handle.net/10012/23740 | |
| dc.language.iso | en | |
| dc.publisher | University of Waterloo | |
| dc.relation.ispartofseries | Waterloo Economics Series; 15-002 | |
| dc.subject | collective preferences | |
| dc.subject | time inconsistency | |
| dc.subject | future bias | |
| dc.subject | altruism | |
| dc.subject | intergenerational redistribution | |
| dc.subject | growth | |
| dc.title | Future-biased government | |
| dc.type | Preprint | |
| uws.contributor.affiliation1 | Faculty of Arts | |
| uws.contributor.affiliation2 | Economics | |
| uws.peerReviewStatus | Unreviewed | |
| uws.scholarLevel | Faculty | |
| uws.typeOfResource | Text | en |