Over the last decade or so, addressing financial instability has become a policy priority. Despite the efforts made, policymakers are still a long way from developing a satisfactory operational framework. A major challenge complicating this task is the "fuzziness" with which financial...

Mass media can play a key role in enabling citizens to monitor the actions of incumbents and to use this information in their voting decisions. Thiscan lead to government which is more accountable and responsive to itscitizens’ needs. In spite of the intuitive plausibility of the proposition,...

The determinants of government responsiveness to its citizens is a key issue in politicaleconomy. Here, we develop a model based on the solution of political agency problems.Having a more informed and politically active electorate strengthens incentives for governmentsto be responsive. This...