This paper develops an approach to political equilibrium in a two-party setting. The approach characterizes political resource allocationas trading o¤ the utility of core party supporters and swing voters,i.e. those who are not attached to either party. The model has threestages. First parties...

A key issue in political economy concerns the accountability structures put in place to select public officials. While the principle that legislators are to be elected is now a defining feature of modern democracies, there are some offices where a plurality of selection methods survive. A key...