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Candidate Entry, Screening, and the Political Budget Cycle

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Author Info
Eric Le Borgne
Ben Lockwood

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Abstract

We investigate whether private information about citizens' competence in political office can be revealed by their entry and campaign expenditure decisions. We find that this depends on whether voters and candidates have common or conflicting interests; only in the former case can entry be revealing. We apply these results to Rogoff's (1990) political budget cycle model: as interests are common, low-ability candidates are screened out at the entry stage, and so there is no signaling via fiscal policy. In a variant of Rogoff's model where citizens differ in honesty, interests are conflicting, so the political budget cycle can persist.

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Paper provided by International Monetary Fund in its series IMF Working Papers with number 02/48.

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Length: 39 pages
Date of creation: 28 Mar 2002
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Handle: RePEc:imf:imfwpa:02/48

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Keywords: Public sector ; Economic models ;

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Prat, A., 1997. "Campaign advertising and voter welfare," Discussion Paper 118, Tilburg University, Center for Economic Research. [Downloadable!]
    Other versions:
  2. Dhillon, A. & Lockwood, B., 1999. "When are Plurality Rule Voting Games Dominance-Solvable?," The Warwick Economics Research Paper Series (TWERPS) 549, University of Warwick, Department of Economics. [Downloadable!]
    Other versions:
  3. Osborne, Martin J & Slivinski, Al, 1996. "A Model of Political Competition with Citizen-Candidates," The Quarterly Journal of Economics, MIT Press, vol. 111(1), pages 65-96, February. [Downloadable!] (restricted)
    Other versions:
  4. Besley, Timothy & Case, Anne, 1995. "Does Electoral Accountability Affect Economic Policy Choices? Evidence from Gubernatorial Term Limits," The Quarterly Journal of Economics, MIT Press, vol. 110(3), pages 769-98, August. [Downloadable!] (restricted)
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  5. Harrington, Joseph E, Jr, 1993. "Economic Policy, Economic Performance, and Elections," American Economic Review, American Economic Association, vol. 83(1), pages 27-42, March.
  6. Hess, Gregory D & Orphanides, Athanasios, 1995. "War Politics: An Economic, Rational-Voter Framework," American Economic Review, American Economic Association, vol. 85(4), pages 828-46, September. [Downloadable!] (restricted)
  7. Cukierman, A. & Tommasi, M., 1997. "When Does It Take a Nixon to Go to China," Papers 30-97, Tel Aviv.
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  8. Cho, In-Koo & Kreps, David M, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, MIT Press, vol. 102(2), pages 179-221, May. [Downloadable!] (restricted)
  9. Leonardo Bartolini & Allan Drazen, 1997. "Capital Account Liberalization as a Signal," NBER Working Papers 5725, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. Besley, Timothy J. & Smart, Michael, 2002. "Does Tax Competition Raise Voter Welfare?," CEPR Discussion Papers 3131, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
  11. Milyo, Jeffrey & Groseclose, Timothy, 1999. "The Electoral Effects of Incumbent Wealth," Journal of Law & Economics, University of Chicago Press, vol. 42(2), pages 699-722, October.
  12. Coate, Stephen & Morris, Stephen, 1995. "On the Form of Transfers in Special Interests," Journal of Political Economy, University of Chicago Press, vol. 103(6), pages 1210-35, December. [Downloadable!] (restricted)
  13. Besley, Timothy & Coate, Stephen, 1997. "An Economic Model of Representative Democracy," The Quarterly Journal of Economics, MIT Press, vol. 112(1), pages 85-114, February.
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  14. Wittman, Donald, 1989. "Why Democracies Produce Efficient Results," Journal of Political Economy, University of Chicago Press, vol. 97(6), pages 1395-1424, December. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Klaas J. Beniers & Robert Dur, 2004. "Politicians' Motivation, Political Culture, and Electoral Competition," Tinbergen Institute Discussion Papers 04-065/1, Tinbergen Institute, revised 16 Aug 2005. [Downloadable!]
  2. Klaas J. Beniers & Robert A. J. Dur, 2004. "Politicians’ Motivation, Political Culture, and Electoral Competition," CESifo Working Paper Series CESifo Working Paper No. , CESifo Group Munich. [Downloadable!]
    Other versions:
  3. Costas Roumanias, 2008. "Auctioning Public Office," Discussion Paper Series 2008_08, Department of Economics, University of Macedonia, revised Sep 2008. [Downloadable!]
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