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The economics of political campaign finance: FECA and the puzzle of the not very greedy grandfathers

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Author Info
Jeffrey Milyo

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Abstract

This paper introduces a structural model of campaign finance which permits estimation of the marginal costs of raising money as well as the marginal benefits of spending and saving money. The model is estimated for the 1986 through 1990 election cycles; the results demonstrate that the probability of retirement hinders an incumbent's ability to raise money and that incumbents willingly trade off electoral security for financial gain. Copyright Kluwer Academic Publishers 1997

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File URL: http://hdl.handle.net/10.1023/A:1017972127133
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Publisher Info
Article provided by Springer in its journal Public Choice.

Volume (Year): 93 (1997)
Issue (Month): 3 (December)
Pages: 245-270
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Handle: RePEc:kap:pubcho:v:93:y:1997:i:3:p:245-270

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Web page: http://www.springerlink.com/link.asp?id=100332

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  1. Stephen Ansolabehere & James M. Snyder Jr, 2000. "Campaign War Chests in Congressional Elections," Business and Politics, Berkeley Electronic Press, vol. 2(1). [Downloadable!]
  2. Jeffrey Milyo & David Primo & Timothy Groseclose, 2000. "Corporate PAC Campaign Contributions in Perspective," Business and Politics, Berkeley Electronic Press, vol. 2(1). [Downloadable!]
  3. Amihai Glazer & Mark Gradstein, 2005. "Elections with contribution-maximizing candidates," Public Choice, Springer, vol. 122(3), pages 467-482, March. [Downloadable!] (restricted)
  4. Thomas Stratmann, 2003. "Tainted Money? Contribution Limits and the Effectiveness of Campaign Spending," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
  5. Jeffrey Milyo, 1998. "The Electoral Effects of Campaign Spending in House Elections: A Natural Experiment Approach," Discussion Papers Series, Department of Economics, Tufts University 9806, Department of Economics, Tufts University. [Downloadable!]
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