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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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The Need for Enemies
Fergusson, Leopoldo - 2012
We develop a political economy model where some politicians have a comparative advantage in undertaking a task and this gives them an electoral advantage. This creates an incentive to underperform in the task in order to maintain their advantage. We interpret the model in the context of fighting...
Persistent link: https://www.econbiz.de/10013101816
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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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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