Political budget cycles (PBCs) result from the credibility problems that office-motivated incumbents face under asymmetric information, due to their temptation to manipulate fiscal policy to increase their electoral chances. We analyze the role of rules that limit debt, crucial for aggregate...

This paper presents a rational political budget cycle model for an open economy, in which devaluations are delayed in the pre-election period so as to increase the electoral chances of the party in office. By concentrating on closed economies, previous political cycle models had overlooked the...

Este capítulo empieza con una definición de los elementos de consenso en la ciencia política sobre el populismo, la idea del "pueblo" versus un "otro". Se agregan dos dimensiones bastante comunes en la caracterización del populismo, la de estilos de liderazgo personalistas y la de desprecio...

To help incorporate natural language into economic theory, this paper does two things. First, the paper extends to imperfect information games an equilibrium concept developed for incomplete information games, so natural language can be formalized as a vehicle to convey information about actions...

Nash recibió el premio Nobel de economía por dos aportes fundamentales: la distinción entre juegos cooperativos y no cooperativos, y el concepto de solución básico para juegos no cooperativos. Myerson indica que este equilibrio es el concepto de solución básico de teoría de juegos dado...