We construct a dynamic model to study the interaction between households' investment decisions, their voting strategies, and government's choice of fiscal policy. Our purposes are threefold. First, we provide a theory of the beneficial effects of political "gridlock". Second, we characterize an...

We construct a dynamic model of political and economic behavior to examine the impact of variations in term lengths and term limits. Term lengths and term limits alter politicians' time horizons and affect voters' use of elections to attain political accountability and select competent...

This essay analyzes the competitive impact of contractual arrangements used by Microsoft to license operating systems to computer hardware manufacturers. I describe the operating system market for personal computers with a particular focus on Microsoft's strategy for selling its operating...