Empirical evidence on the relationship between democracy and economic reforms is limited to few reforms, countries, and … years. This paper studies the impact of democracy on the adoption of economic reforms using a new dataset on reforms in the …. Democracy has a positive and significant impact on the adoption of economic reforms but there is no evidence that economic …

sovereign debt is to maintain access to international capital markets. However, in a democracy, one generation may choose …

We propose a theory to explain why, and under what circumstances, a politician gives up rent and delegates policy tasks … to an independent agency. We apply this theory to monetary policy by extending a standard dynamic ""New …-Keynesian"" stochastic general equilibrium model. This model gives a new theory of central bank independence that is unrelated to the …

demonstrates that in an economic and demographic steady state, majoritarian democracy overspends on social security. It then shows …

, the “economic model of politics” proposes a public choice approach, which does not rely on social welfare functions. With …

The paper applies an empirical model, based on the economic theory of public choice, to the Group of Seven countries …