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Policy Choice: Theory and Evidence from Commitment via International Trade Agreements
Limão, Nuno; Tovar, Patricia - C.E.P.R. Discussion Papers - 2009
Why do governments employ inefficient policies to redistribute income towards special interest groups (SIGs) when more efficient ones are available? To address this puzzle we derive and test predictions for a set of policies where detailed data is available and an efficiency ranking is feasible:...
Persistent link: https://www.econbiz.de/10005136624
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Political Connections and Preferential Access to Finance: The Role of Campaign Contributions
Claessens, Stijn; Feijen, Erik; Laeven, Luc - C.E.P.R. Discussion Papers - 2007
Using novel indicators of political connections constructed from campaign contribution data, we show that Brazilian firms that provided contributions to (elected) federal deputies experienced higher stock returns than firms that don’t around the 1998 and 2002 elections. This suggests...
Persistent link: https://www.econbiz.de/10005666705
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Political Conflict and Power-Sharing in the Origins of Modern Colombia
Mazzuca, Sebastián L; Robinson, James A - C.E.P.R. Discussion Papers - 2006
civil war and conflict, a force intensified by the brutal conflict of the War of a Thousand days between 1899 and 1902. The … the parties in the population, thus encouraging conflict. The strategic advantage of PR was that it avoided such under … origins of electoral systems and the nature of political conflict and its resolution. …
Persistent link: https://www.econbiz.de/10005114374
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Legislative Process with Open Rules
Fahrenberger, Theresa; Gersbach, Hans - C.E.P.R. Discussion Papers - 2007
We examine the legislative game with open rules proposed by Baron and Ferejohn (1989). We first show that the three-group equilibrium suggested by Baron and Ferejohn does not always obtain. Second, we characterize the set of stationary equilibria for simple and super majority rules. Such...
Persistent link: https://www.econbiz.de/10005789056
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Vote-share Contracts and Democracy
Gersbach, Hans - C.E.P.R. Discussion Papers - 2007
In this paper we introduce vote-share contracts. Such contracts contain a vote-share threshold that incumbents must reach in order to be reelected. In a simple model, we illustrate the working of vote-share contracts. Such vote-share contracts curb socially detrimental incumbency advantages by...
Persistent link: https://www.econbiz.de/10005791280
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Consumer Confidence and Elections
Hardouvelis, Gikas A; Thomakos, Dimitrios D - C.E.P.R. Discussion Papers - 2008
We investigate the behavior of consumer confidence around national elections in the EU-15 countries during 1985:1-2007:3. Consumer confidence increases before the date of elections and falls subsequently by almost the same amount. It is able to predict the strength of the performance of the...
Persistent link: https://www.econbiz.de/10005791524
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On the Optimal Number of Representatives
Auriol, Emmanuelle; Gary-Bobo, Robert J. - C.E.P.R. Discussion Papers - 2007
We propose a normative theory of the number of representatives based on a stylized model of a representative democracy. We derive a simple formula, a "square-root theory" which gives the number of representatives in parliament as proportional to the square root of total population. Simple...
Persistent link: https://www.econbiz.de/10005791717
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Should We Really Expect More from Our Friends?
Laussel, Didier; van Ypersele, Tanguy - C.E.P.R. Discussion Papers - 2007
In the present paper, we analyze an original channel of interaction between politicians and lobbies i.e. the nuisance power of a lobby. Some lobbies are influencing public policies just because they are able to impact negatively the image of a politician. More particularly, we develop a setting...
Persistent link: https://www.econbiz.de/10005791959
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The Role of Political Partisanship during Economic Crises
Galasso, Vincenzo - C.E.P.R. Discussion Papers - 2010
Large economic crises require quick policy reactions. They bring a sense of urgency by increasing the cost of the status quo, and may thus force policy-makers to reform. However, large crises increase also uncertainty for many individuals (entrepreneurs, workers, retirees), and thus induce more...
Persistent link: https://www.econbiz.de/10008468697
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The Political Economy of Mass Media
Prat, Andrea; Strömberg, David - C.E.P.R. Discussion Papers - 2011
We review the burgeoning political economy literature on the influence of mass media on politics and policy. This survey, which covers both theory and empirics, is organized along four main themes: transparency, capture, informative coverage, and ideological bias. We distill some general lessons...
Persistent link: https://www.econbiz.de/10008854519