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The Median Voter Theorem is an extremely popular result in Political Economy that holds only if the policy space is unidimensional. This assumption restricts its use to a class of very simple problems. In most applications in the literature this implied an oversimplification of the problem...
Persistent link: https://www.econbiz.de/10011109938
Abstract Traditional Political Economy models typically imply a strong relationship between income inequality and public intervention in redistributive policies. Empirical evidence suggests that this may hold true only for certain kinds of policies, for instance cash transfers or education, but...
Persistent link: https://www.econbiz.de/10011114493