"Our focus in this paper is with the transaction costs inherent in most decision making settings. We specifically investigate an "institution free" collective choice mechanism that includes costs to calling votes. A set of models show that under low costs (i.e., where no cost-induced equilibrium...

In this paper we examine the dynamics of the link between inequality and inflation from a political economy perspective. We consider a simple dynamic general equilibrium model in which agents vote over the desired inflation rate in each period, and inequality is persistent. Inflation in our...

Estudiamos cómo afecta el sistema electoral a la presencia de mujeres en política usando un modelo en el que tanto los votantes como los partidos pueden tener un sesgo de género. Aplicamos el modelo a las elecciones municipales españolas, en las que, según la ley, los municipios utilizan...

We model EU countries? bank ratings using financial variables and allowing for intercept and slope heterogeneity. We find that country-specific factors (in the form of heterogeneous intercepts) are a crucial determinant of ratings. Whilst ?new? EU countries typically have lower ratings than...