This paper provides empirical evidence on life-cycle patterns in the asset allocation of Swedish households. Data on household portfolio allocation are collected from the HINK surveys for the period 1982-1992, and portfolio shares of different asset categories are regressed on age, period, and...

This paper studies a model of how political parties use resources for campaigning to inform voters. We show existence of equilibrium under mild assumptions for an arbitrary number of parties. The main result is that if the parties are more extreme, then they spend less resources on campaigning...

This paper provides new evidence on the effect of immigration on election outcomes. Our analysis makes use of data on city districts in Hamburg, Germany, during a period of substantial inflows of immigrants and asylum seekers. We find significant and robust effects for changes in foreigner...

The present paper studies the effects of bandwagon and underdog on the political equilibrium of two-party competition models. We adapt the generalized Wittman-Roemer model of political competition for voter conformism, which views political competition as the one between parties with factions of...