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The Excess Burden of Government Indecision
Social Science Research Network
Executive Summary Governments are known for procrastinating when it comes to resolving painful policy problems. Whatever the political motives for waiting to decide, procrastination distorts economic decisions relative to what would arise with early policy resolution. In so doing, it engenders excess burden. This paper posits, calibrates, and simulates a life cycle model with earnings, life span, investment return, and future policy uncertainty. It then measures the excess burden from delayeddoi:10.2139/ssrn.1094990 fatcat:sc3ugd3ol5cv7grtu4yoggst7e