This Report is about Reforming pensions in China, Chile and elsewhere.

This bold, imaginative book advances an entirely new theory of voters’ behavior.The starting point for this theory is that individuals are endowed with a set of beliefs, ora worldview, and derive psychological benefits from acting in accordance with these beliefs.However, the beliefs of most...

This paper analyzes whether political outcomes in local democracies are determinedby the preferences of the median -typically poor- agents or whether they reflect thewishes of the wealthy elites. A model shows that when politicians belonging to differentgroups can form coalitions, the wealthy...