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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

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

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

Five Open Questions About Prediction Markets

Wolfers, Justin; Zitzewitz, Eric - C.E.P.R. Discussion Papers - 2006

Interest in prediction markets has increased in the last decade, driven in part by the hope that these markets will prove to be valuable tools in forecasting, decision-making and risk management - in both the public and private sectors. This paper outlines five open questions in the literature,...

Persistent link: https://www.econbiz.de/10005504341

Intergovernmental Grants as Signals and the Alignment Effect: Theory and Evidence

Bracco, Emanuele; Lockwood, Ben; Porcelli, Francesco; … - C.E.P.R. Discussion Papers - 2015

This paper provides a simple political agency model to explain the effect of political alignment between different tiers of government on intergovernmental grants and election outcomes. Key features of the model are: (i) rational voters interpret public good provision as a signal of incumbent...

Persistent link: https://www.econbiz.de/10011165654

Radio and the Rise of the Nazis in Prewar Germany

Adena, Maja; Enikolopov, Ruben; Petrova, Maria; … - C.E.P.R. Discussion Papers - 2013

How far can the media undermine democratic institutions, and how persuasive can media be in ensuring public support for a dictator’s policies? We study this question in the context of Germany between 1929 and 1939. Using quasi-random geographical variation in radio availability, we show that...

Persistent link: https://www.econbiz.de/10011083247

Higher Bars for Incumbents and Experience

Gersbach, Hans; Müller, Markus - C.E.P.R. Discussion Papers - 2012

This paper analyzes optimal re-election bars when incumbents gain socially valuable experience in office. We develop a two-period model in which the output of a public good depends on an office-holder's effort, ability and experience. When campaigning for election to an open seat in the first...

Persistent link: https://www.econbiz.de/10011083310

The Dark Side of the Vote: Biased Voters, Social Information, and Information Aggregation Through Majority Voting

Morton, Rebecca; Piovesan, Marco; Tyran, Jean-Robert - C.E.P.R. Discussion Papers - 2012

We experimentally investigate information aggregation through majority voting when some voters are biased. In such situations, majority voting can have a “dark side”, i.e. result in groups making choices inferior to those made by individuals acting alone. We develop a model to predict how...

Persistent link: https://www.econbiz.de/10011083707

Benchmarking Politicians

Estache, Antonio; Foucart, Renaud - C.E.P.R. Discussion Papers - 2013

We study a political system in which voters can optimally pick between political platforms, but cannot screen the quality of individual politicians associated with these platforms. A bad individual achievement can correspond to either incompetence (adverse selection) or corruption (moral...

Persistent link: https://www.econbiz.de/10011083784

Democratic Redistribution and Rule of the Majority

Corneo, Giacomo; Neher, Frank - C.E.P.R. Discussion Papers - 2014

Does redistribution in democracies cater to the will of the majority? We propose and apply a simple empirical strategy based on survey data to address that longstanding issue. Differently from previous evaluations of the median-voter theory, ours does not assume that voters are guided by...

Persistent link: https://www.econbiz.de/10011084276

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