There have been almost 40 years after the restoration of democracy in Greece and a peculiar prosperity, which was consciously cultivated by the leaders of political and economic elites, was promoted before the onset of the financial crisis. However, from the beginning of the financial recession,...

We analyze the partisanship of Securities and Exchange Commissioners (SEC) and members of the Federal Reserve Board of Governors (Fed) using the language-based approach of Gentzkow, Shapiro, and Taddy (Econometrica, 2019). The level of partisanship among these regulators is greater than that of...

Drawing on an analysis of austerity reforms in Greece and Portugal during the sovereign debt crisis from 2009 onwards, we show how the nature of the linkages between parties and citizens shapes party strategies of fiscal retrenchment. We argue that parties which rely to a greater extent on the...

The global financial crisis of the recent years has been a serious stress test for representative democracies. Voter support has supposedly become more volatile, fragmented and polarized, leaving elites with an intricate mix of economic and political challenges. However, a closer look at a new...