Recent models of speculative currency crises contend that market expectations of policy behavior can trigger a speculative attack. We argue that political processes and partisan objectives inform expectations about the government's commitment to the exchange rate. First, market actors anticipate...

We examine the impact of minority governments on the choice of exchange rate regime in advanced OECD democracies after the collapse of the Bretton Woods system. We demonstrate that leaders of minority governments had a lower political discount factor in office than majority governments across...

The 1896 presidential election between William Jennings Bryan and William McKinley has new salience in the wake of the 2016 presidential contest. We provide the first systematic analysis of presidential voting in 1896, combining county-level returns with economic, financial, and demographic...