political power. Shortly after the founding of Buenos Aires, plots of land in the outskirts of the city were randomly assigned … exogenous variation in individuals’ wealth, I find that wealth causes political power. I also explore possible mechanisms and …

study the self-perpetuation of political elites. We find that legislators who enjoy longer tenures are significantly more … is causal: a longer period in power increases the chance that a person may start (or continue) a political dynasty …. Therefore, dynastic political power is self-perpetuating in that a positive exogenous shock to a person's political power has …

study the self-perpetuation of political elites. We find that legislators who enjoy longer tenures are significantly more … is causal: a longer period in power increases the chance that a person may start (or continue) a political dynasty …. Therefore, dynastic political power is self-perpetuating in that a positive exogenous shock to a person's political power has …

policies and the success of dynastic politicians. Electoral success of politicians depends on their ability to implement better … policies for the voters because campaign promises are empty. Good politicians are more likely to implement the policy that … maximizes social welfare. Dynastic politicians are believed to be good or bad depending on the policy implemented by their …