Aruoba, S. Boragan; Drazen, Allan; Vlaicu, Razvan - National Bureau of Economic Research (NBER) - 2015
This paper proposes a structural approach to measuring the effects of electoral accountability. We estimate a political agency model with imperfect information in order to identify and quantify discipline and selection effects, using data on U.S. governors for 1982-2012. We find that the...