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Policymakers' Horizon and the Sustainability of International Cooperation

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  • Paola Conconi
  • Nicolas Sahuguet

Abstract

This paper examines the impact of policymakers' horizon on the sustainability of international cooperation. We describe a prisoners' dilemma game between two infinitely-lived countries run by policymakers. We show that re-election incentives can act as a discipline device, making it easier to sustain cooperation between policymakers with finite but potentially renewable mandates than between infinitely-lived policymakers. We also show that, when voting suffers from a recency bias, policymakers may have incentives to "collude" to get re-elected and term limits may help international cooperation.

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Paper provided by ULB -- Universite Libre de Bruxelles in its series ULB Institutional Repository with number 2013/98547.

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Date of creation: 2009
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Publication status: Published in: Journal of public economics (2009) v.93,p.549-558
Handle: RePEc:ulb:ulbeco:2013/98547

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  1. Grossman, Gene M. & Helpman, Elhanan, 2004. "A Protectionist Bias in Majoritarian Politics," Papers, Princeton University, Research Program in Political Economy 12-21-2004, Princeton University, Research Program in Political Economy.
  2. Eisenberg Daniel & Ketcham Jonathan, 2004. "Economic Voting in U.S. Presidential Elections: Who Blames Whom for What," The B.E. Journal of Economic Analysis & Policy, De Gruyter, De Gruyter, vol. 4(1), pages 1-25, August.
  3. Conconi, Paola & Perroni, Carlo, 2009. "Do credible domestic institutions promote credible international agreements?," Journal of International Economics, Elsevier, Elsevier, vol. 79(1), pages 160-170, September.
  4. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, Springer, vol. 50(1), pages 5-25, January.
  5. Emanuel Ornelas, 2005. "Rent Destruction and the Political Viability of Free Trade Agreements," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 120(4), pages 1475-1506, November.
  6. Edward Glaeser, 1997. "Self-imposed term limits," Public Choice, Springer, Springer, vol. 93(3), pages 389-394, December.
  7. Giovanni Maggi, 1999. "The Role of Multilateral Institutions in International Trade Cooperation," American Economic Review, American Economic Association, American Economic Association, vol. 89(1), pages 190-214, March.
  8. Salant, David J., 1991. "A repeated game with finitely lived overlapping generations of players," Games and Economic Behavior, Elsevier, Elsevier, vol. 3(2), pages 244-259, May.
  9. Fair, Ray C, 1978. "The Effect of Economic Events on Votes for President," The Review of Economics and Statistics, MIT Press, vol. 60(2), pages 159-73, May.
  10. Putnam, Robert D., 1988. "Diplomacy and domestic politics: the logic of two-level games," International Organization, Cambridge University Press, Cambridge University Press, vol. 42(03), pages 427-460, June.
  11. Kandori, Michihiro, 1992. "Repeated Games Played by Overlapping Generations of Players," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 59(1), pages 81-92, January.
  12. Glaeser, Edward L, 1997. " Self-Imposed Term Limits," Public Choice, Springer, Springer, vol. 93(3-4), pages 389-94, December.
  13. Conconi, Paola & Sahuguet, Nicolas & Zanardi, Maurizio, 2008. "Democratic Peace and Electoral Accountability¤," CEPR Discussion Papers, C.E.P.R. Discussion Papers 6908, C.E.P.R. Discussion Papers.
  14. Eric W. Bond & Jee-Hyeong Park, 2002. "Gradualism in Trade Agreements with Asymmetric Countries," Review of Economic Studies, Oxford University Press, vol. 69(2), pages 379-406.
  15. Conconi, Paola & Sahuguet, Nicolas, 2005. "Re-election Incentives and the Sustainability of International Cooperation," CEPR Discussion Papers, C.E.P.R. Discussion Papers 5401, C.E.P.R. Discussion Papers.
  16. Yianis Sarafidis, 2007. "What Have you Done for me Lately? Release of Information and Strategic Manipulation of Memories," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 117(518), pages 307-326, 03.
  17. Lohmann, Susanne, 1993. "Electoral cycles and international policy cooperation," European Economic Review, Elsevier, Elsevier, vol. 37(7), pages 1373-1391, October.
  18. Nordhaus, William D, 1975. "The Political Business Cycle," Review of Economic Studies, Wiley Blackwell, Wiley Blackwell, vol. 42(2), pages 169-90, April.
  19. Smith, Lones, 1992. "Folk theorems in overlapping generations games," Games and Economic Behavior, Elsevier, Elsevier, vol. 4(3), pages 426-449, July.
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Cited by:
  1. J. Atsu Amegashie, 2009. "Incomplete Property Rights and Overinvestment," CESifo Working Paper Series 2711, CESifo Group Munich.
  2. Hubert Kempf & Stéphane Rossignol, 2010. "National Politics and International Agreements," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00497463, HAL.

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