The role of national, sectional, state, and local forces in driving electoral outcomes in the United States has remained a matter of considerable indeterminacy in the American politics literature. In what concerns House elections, different approaches and methods have yielded widely divergent...

Capital gains play an important, positive role in the inter-temporal allocation of resources, but they can also be a source of economic instability. We analyze a simple overlapping-generations economy with capital goods and irreversible investment. For each vector of initial capital/labor...