We study the opportunistic political budget cycle in the London Metropolitan Boroughs between 1902 and 1937 under two … 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. …

uncertain prospects of re-election, find it optimal to follow relatively shortsighted fiscal policies, and that this lowers …

-)reactions are visible in equity prices. Additionally, a link of OFC service provision to activity in London, Tokyo, and New York is …

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 …

equilibrium policy is smaller, because their bargaining power is reduced compared to a single ballot election. The predictions on …

Random factors such as bad weather or exogenous economic shocks affect the re-election of politicians and can reduce … accountability. Such distorted election choices interact with the architecture of government. Contrasting centralized with … decentralized political systems, this study shows that centralization is likely to result in higher accountability if election …