We develop a theory of endogenous political entrenchment in a simple two-party dynamic model of income redistribution … commit to provide, and therefore may help offsetting a potential future aggregate ideological shock averse to the left … theory for constitutionally legislated term limits is also discussed. The theory sheds light on why left-wing parties or …

aftermath of major wars. Motivated by this fact, we offer a theory of political transitions which focuses on the impact of … evidence consistent with our theory is also provided. -- Autocracy ; democracy ; wars ; redistribution …