A New Approach to Modeling Political Change
The prupose of this paper is to investigate whether legislators vote in two distinct blocs as suggested by the US political system and whether these voting patterns can be explained by economic variables. The paper employs a variant of the Hamilton Reime-Switching Model (1989) to uncover three major patterns in the data. There appear to be two distinct voting blocs closely related though not identical to the two-party system.
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Web page: http://www.wellesley.edu/Economics/
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