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Vote and Popularity Functions

In: Readings in Public Choice and Constitutional Political Economy

Author

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  • Martin Paldam

Abstract

During the last 30 years about 300 papers on Vote and Popularity functions (VP-functions) (defined in Table 29.1) have been written.2 Most of the research is empirical. The purpose of this article is to survey this literature and discuss how the empirical results fit into economic theory. From bedrock theory follows a remarkable amount of nice, sound theory, and everything can be generalized into the general equilibrium, growing along a steadystate path maximizing consumption. Politics convert the demand for public good into the optimal production of such goods and minimizing economic fluctuations. The past is relevant only as it allows the agents to predict the future, markets are efficient, etc. This nice theory is well known, and it is a wonderful frame of reference. Especially in the 1980s, a strong movement in economics argued that the world was really much closer to the bedrock than hitherto believed. If the noise terms are carefully formulated, the world is loglinear and everybody maximizes from now to infinity.

Suggested Citation

  • Martin Paldam, 2008. "Vote and Popularity Functions," Springer Books, in: Readings in Public Choice and Constitutional Political Economy, chapter 29, pages 533-550, Springer.
    • Handle: RePEc:spr:sprchp:978-0-387-75870-1_29
    DOI: 10.1007/978-0-387-75870-1_29
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    Citations

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    Cited by:

    1. Berlemann, Michael & Enkelmann, Sören, 2014. "The economic determinants of U.S. presidential approval: A survey," European Journal of Political Economy, Elsevier, vol. 36(C), pages 41-54.
    2. Sören Enkelmann, 2014. "Government popularity and the economy: first evidence from German microdata," Empirical Economics, Springer, vol. 46(3), pages 999-1017, May.
    3. Andreas Freytag & Martin Paldam, 2012. "Comparing good and bad borrowing in developing countries - a study of twin cases," Global Financial Markets Working Paper Series 2012-31, Friedrich-Schiller-University Jena.
    4. Enkelmann, Sören & Leibrecht, Markus, 2013. "Political expenditure cycles and election outcomes: Evidence from disaggregation of public expenditures by economic functions," Economics Letters, Elsevier, vol. 121(1), pages 128-132.
    5. Gavoille, Nicolas, 2018. "Who are the ‘ghost’ MPs? Evidence from the French parliament," European Journal of Political Economy, Elsevier, vol. 53(C), pages 134-148.
    6. Andrés Cendales & Jhon James Mora, 2015. "Precarious democracies, political negotiation and selective predation," Estudios Económicos, El Colegio de México, Centro de Estudios Económicos, vol. 30(2), pages 305-339.
    7. Georgios Efthyvoulou, 2012. "Political budget cycles in the European Union and the impact of political pressures," Public Choice, Springer, vol. 153(3), pages 295-327, December.
    8. Nicolas GAVOILLE & Jean-Michel JOSSELIN & Fabio PADOVANO, 2014. "What do you know about your mayor? Voters’ information and jurisdiction size," Economics Working Paper from Condorcet Center for political Economy at CREM-CNRS 2014-01-ccr, Condorcet Center for political Economy, revised Aug 2015.
    9. Andrés Cendales & Jhon James Mora, 2014. "Precarious Democracies, Political Negotiation and Selective Predation," Documentos de Trabajo 12422, Universidad Católica de Colombia.
    10. Soeren Enkelmann, 2013. "Government Popularity and the Economy First Evidence from German Micro Data," Working Paper Series in Economics 274, University of Lüneburg, Institute of Economics.

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