Austerity measures are frequently enacted when the sustainability of public finances is in doubt. Such doubts are reflected in high sovereign yield spreads and put further strain on government finances. Is austerity successful in restoring market confidence, bringing about a reduction in yield...

We analyze the effects of personal characteristics of 4239 political candidates on their performance in local elections in Germany. Our results show that a candidate's occupation plays a decisive role. Occupational effects can be explained by (a) an occupation's public reputation and (b) public...