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Fairness and Redistribution : U.S. Versus Europe
Alesina, Alberto F. - 2011
Different beliefs about how fair social competition is and what determines income inequality, influence the redistributive policy chosen democratically in a society. But the composition of income in the first place depends on equilibrium tax policies. If a society believes that individual effort...
Persistent link: https://www.econbiz.de/10013134300
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Public Goods in Trade : on the Formation of Markets and Political Jurisdictions
Casella, Alessandra - 2010
The current debate in Western Europe centers on the relationship between economic and political integration. To address this problem, we construct a simple general equilibrium model in which the returns to trading are directly affected by the availability of a public good. In our model,...
Persistent link: https://www.econbiz.de/10013138063
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A Theory of Political and Economic Cycles
Ales, Laurence - 2012
We develop a theoretical framework in which political and economic cycles are jointly determined. These cycles are driven by three political economy frictions: policymakers are non-benevolent, they cannot commit to policies, and they have private information about the tightness of the government...
Persistent link: https://www.econbiz.de/10013100994
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Shrouded Costs of Government : The Political Economy of State and Local Public Pensions
Glaeser, Edward L. - 2013
Why are public-sector workers so heavily compensated with pensions and other non-pecuniary benefits? In this paper, we present a political economy model of shrouded compensation in which politicians compete for taxpayers' and public employees' votes by promising compensation packages, but some...
Persistent link: https://www.econbiz.de/10013083093
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Left, Right, Left : Income, Learning and Political Dynamics
Morrow, John - 2013
The political left turn in Latin America, which lagged its transition to liberalized market economies by a decade or more, challenges conventional economic explanations of voting behavior. This paper generalizes the forward-looking voter model to a broad range of dynamic, non-concave income...
Persistent link: https://www.econbiz.de/10013074913
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Migration-Regime Liberalization and Social Security : Political-Economy Effect
Razin, Assaf - 2010
The pay-as-you-go social security system, increasingly burdened by dwindling labor force, can benefit from immigrants whose birth rates exceed those of the native born birth. The paper examines adynamic political-economy mechanism through which the social security system influences the young...
Persistent link: https://www.econbiz.de/10013152617
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Does the Winner Take it All? Redistributive Policies and Political Extremism
Daniele, Gianmarco - 2020
We show that regional heterogeneity of underlying fundamentals (e.g. economic history, geography, social capital) can lead to extreme voting in federations. When the outcome of federal policies – such as transfer schemes, market regulation or migration laws – depends on these fundamentals,...
Persistent link: https://www.econbiz.de/10012836939
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The Positive Economics of Methodology
Landsburg, Steve - 2007
Does an observation constitute stronger evidence for a theory if it was made after rather than before the theory was … formulated, when it may have influenced the theory's construction? Philosophers have discussed this question (of quot … and then constructs a theory) versus structural models with formal econometric tests (where a model is constructed before …
Persistent link: https://www.econbiz.de/10012776741
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Do Voters Vote Sincerely?
Degan, Arianna - 2007
In this paper we address the following question: To what extent is the hypothesis that voters vote sincerely testable or falsifiable? We show that using data only on how individuals vote in a single election, the hypothesis that voters vote sincerely is irrefutable, regardless of the number of...
Persistent link: https://www.econbiz.de/10012777605
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Fiscal Rules and Sovereign Default
Alfaro, Laura - 2017
Recurrent concerns over debt sustainability in emerging and developed nations have prompted renewed debate on the role of fiscal rules. Their optimality, however, remains unclear. We provide a quantitative analysis of fiscal rules in a standard model of sovereign debt accumulation and default...
Persistent link: https://www.econbiz.de/10012957369