the static setting with a dynamic scenario where each incumbent politician faces an election after a finite, fixed term …

We identify exogenous variation in incumbent policymakers' re-election probabilities and explore empirically how this … variation affects the incumbents' investment in physical capital. Our results indicate that a higher re-election probability …

. Our results indicate that the fall in revenue in election periods is attributed to a fall in direct taxation. The …

political agency setting. In the baseline two-period case where only the politician's actions are observable before the election … probability before the election (Maskin and Tirole's "feedback" case). In the three-period case, with two elections, the dynamic … evolution of confirmation bias can lead to more pandering before the first election. Finally, we show that when confirmation …

cycle manifests itself in election year tax cuts and savings on administration costs. Universal suffrage, where all adult … budget cycle manifests itself in election year hikes in capital spending and a reduction in current spending. …