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Contractual Democracy

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  • Gersbach, Hans

Abstract

Although they would yield social benefits, some political projects may not be implemented in democracies. Prominent examples are the reform of European labour markets, the reduction of government debt or the reduction of greenhouse gases. We suggest introducing political contracts to make liberal democracy more efficient without altering its fundamental values. Furthermore, such contracts can foster the public's trust in politics. We discuss four archetypes of political contracts and ways of implementing them. We outline the certification and control procedures for political contracts and address the major concerns arising with regard to contractual democracy.

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Paper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 6763.

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Date of creation: Mar 2008
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Handle: RePEc:cpr:ceprdp:6763

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Keywords: contractual democracy; elections; political contracts;

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References

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  1. Gersbach, Hans & Haller, Hans, 2001. "Collective Decisions and Competitive Markets," Review of Economic Studies, Wiley Blackwell, vol. 68(2), pages 347-68, April.
  2. Casamatta, Georges & Cremer, Helmuth & Pestieau, Pierre, 2000. "Political sustainability and the design of social insurance," Journal of Public Economics, Elsevier, vol. 75(3), pages 341-364, March.
  3. Christoph Böhringer & Carsten Vogt, 2003. "Economic and environmental impacts of the Kyoto Protocol," Canadian Journal of Economics, Canadian Economics Association, vol. 36(2), pages 475-496, May.
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  12. Gersbach, Hans & Schneider, Maik, 2012. "Tax Contracts and Elections," CEPR Discussion Papers 9054, C.E.P.R. Discussion Papers.
  13. Bryan Caplan, 2002. "Systematically Biased Beliefs About Economics: Robust Evidence of Judgemental Anomalies from the Survey of Americans and Economists on the Economy," Economic Journal, Royal Economic Society, vol. 112(479), pages 433-458, April.
  14. William D. Nordhaus & Joseph G. Boyer, 1999. "Requiem for Kyoto: An Economic Analysis of the Kyoto Protocol," The Energy Journal, International Association for Energy Economics, vol. 0(Special I), pages 93-130.
  15. Joel Watson, 2002. "Contract, Mechanism Design, and Technological Detail," Theory workshop papers 505798000000000006, UCLA Department of Economics.
  16. Hans Gersbach, 2004. "Competition of Politicians for Incentive Contracts and Elections," Public Choice, Springer, vol. 121(1), pages 157-177, October.
  17. Jeffrey Banks & John Duggan, 2001. "A Multidimensional Model of Repeated Elections," Wallis Working Papers WP24, University of Rochester - Wallis Institute of Political Economy.
  18. Hardman Moore, John & Hart, Oliver, 1985. "Incomplete Contracts and Renegotiation," CEPR Discussion Papers 60, C.E.P.R. Discussion Papers.
  19. Aragones, Enriqueta & Palfrey, Thomas R. & Postlewaite, Andrew, 2006. "Political reputations and campaign promises," Working Papers 1258, California Institute of Technology, Division of the Humanities and Social Sciences.
  20. Gersbach, Hans & Liessem, Verena, 2003. "Incentive Contracts and Elections for Politicians with Multi-Task Problems," CEPR Discussion Papers 4075, C.E.P.R. Discussion Papers.
  21. Nigar Hashimzade & George Davis, 2006. "Human capital and growth under political uncertainty," Economics Bulletin, AccessEcon, vol. 15(1), pages 1-7.
  22. Andreas Wagener, 2002. "Intergenerational Transfer Schemes as Incomplete Social Contracts," Constitutional Political Economy, Springer, vol. 13(4), pages 337-359, December.
  23. Warwick J. McKibbin & Peter J. Wilcoxen, 2002. "The Role of Economics in Climate Change Policy," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 107-129, Spring.
  24. Tollison, Robert D, 1982. "Rent Seeking: A Survey," Kyklos, Wiley Blackwell, vol. 35(4), pages 575-602.
  25. Hans Gersbach, 1998. "On the Equivalence of General and Specific Control in Organizations," Management Science, INFORMS, vol. 44(5), pages 730-737, May.
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Citations

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Cited by:
  1. Gersbach, Hans & Ponta, Oriana, 2013. "Unraveling Short- and Farsightedness in Politics," CEPR Discussion Papers 9314, C.E.P.R. Discussion Papers.
  2. Hans Gersbach & Oriol Tejada & Maik T. Schneider, 2014. "Coalition-Preclusion Contracts and Moderate Policies," CER-ETH Economics working paper series 14/195, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  3. Johannes Gerd Becker & Hans Gersbach, 2013. "A Theory of Threshold Contracts," CER-ETH Economics working paper series 13/182, CER-ETH - Center of Economic Research (CER-ETH) at ETH Zurich.
  4. Peter Bernholz, 2012. "From The Calculus of Consent to extended logrolling, negative externalities, and the Coase theorem," Public Choice, Springer, vol. 152(3), pages 265-271, September.
  5. Gersbach, Hans, 2010. "Government Debt Threshold Contracts," CEPR Discussion Papers 8001, C.E.P.R. Discussion Papers.
  6. Gersbach, Hans & Schneider, Maik T., 2012. "Tax contracts, party bargaining, and government formation," Mathematical Social Sciences, Elsevier, vol. 64(2), pages 173-192.

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