We consider the behavior of an incumbent that can deploy local public goods and private goods to buy votes, and is unable to verify vote choice but capable of monitoring voter turnout, a common scenario in secret-ballot polities. As advanced by recent literature, the ability to monitor turnout...

Using multicointegration methodology, we develop criteria for testing sustainability of fiscal budgeting processes across all states of nature. Criteria are derived from the optimal control literature where levels and rates of change of a system of variables are determinants of policy response....

In Leachman et al. (2005) we use the multicointegration approach to test for sustainable fiscal budgeting processes in a stochastic setting in 15 industrialized countries. In this paper, we extend the analysis in order to rank these same countries as well as an additional three, according to the...