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Political Careers or Career Politicians?

  • Andrea Mattozzi

    ()

    (Division of Humanities and Social Sciences, California Institute of Technology)

  • Antonio Merlo

    ()

    (Department of Economics, University of Pennsylvania)

Two main career paths are prevalent among politicians in modern democracies: there are career politicians (i.e., politicians who work in the political sector until retirement), and political careers (i.e., there are politicians who leave politics before retirement and work in the private sector). In this paper, we propose a dynamic equilibrium model of the careers of politicians in a political economy with a private sector and a political sector, where individuals are heterogeneous with respect to their market ability and political skills. We characterize the conditions under which the two career paths emerge in equilibrium, and investigate the effects of monetary incentives and other features of the political-economic environment on the quality of politicians and their careers. Our analysis also provides a rationale for the existence and the survival of political parties.

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File URL: http://economics.sas.upenn.edu/system/files/working-papers/05-032.pdf
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Paper provided by Penn Institute for Economic Research, Department of Economics, University of Pennsylvania in its series PIER Working Paper Archive with number 05-032.

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Length: 39 pages
Date of creation: 01 Jul 2005
Date of revision: 01 Dec 2005
Handle: RePEc:pen:papers:05-032
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  1. Carrillo, Juan D. & Mariotti, Thomas, 2001. "Electoral competition and politician turnover," European Economic Review, Elsevier, vol. 45(1), pages 1-25, January.
  2. Martin J. Osborne & Al Slivinksi, 1995. "A Model of Political Competition with Citizen-Candidates," Department of Economics Working Papers 1995-01, McMaster University.
  3. Ernesto Dal Bo, 2000. "Bribing Voters," Economics Series Working Papers 39, University of Oxford, Department of Economics.
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  5. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, vol. 50(1), pages 5-25, January.
  6. Mattozzi, Andrea & Merlo, Antonio, 2008. "Political careers or career politicians?," Journal of Public Economics, Elsevier, vol. 92(3-4), pages 597-608, April.
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  10. Andrea Prat, 2005. "The Wrong Kind of Transparency," American Economic Review, American Economic Association, vol. 95(3), pages 862-877, June.
  11. Alesina, Alberto & Spear, Stephen, 1988. "An Overlapping Generations Model of Electoral Competition," Scholarly Articles 4553015, Harvard University Department of Economics.
  12. Panu Poutvaara & Tuomas Takalo, 2004. "Candidate Quality," Public Economics 0406009, EconWPA.
  13. Tim Besley & Stephen Coate, . "An Economic Model of Representative Democracy," Penn CARESS Working Papers ecf70d639d700dba5327ab0c8, Penn Economics Department.
  14. Timothy Besley, 2005. "Political Selection," Journal of Economic Perspectives, American Economic Association, vol. 19(3), pages 43-60, Summer.
  15. Massimo Morelli, 2004. "Party Formation and Policy Outcomes under Different Electoral Systems," Review of Economic Studies, Wiley Blackwell, vol. 71, pages 829-853, 07.
  16. Ernesto Dal B� & Pedro Dal B� & Jason Snyder, 2009. "Political Dynasties," Review of Economic Studies, Oxford University Press, vol. 76(1), pages 115-142.
  17. Bernard Caillaud & Jean Tirole, 2002. "Parties As Political Intermediaries," The Quarterly Journal of Economics, MIT Press, vol. 117(4), pages 1453-1489, November.
  18. Echenique, Federico & Edlin, Aaron, 2004. "Mixed equilibria are unstable in games of strategic complements," Journal of Economic Theory, Elsevier, vol. 118(1), pages 61-79, September.
  19. Daniel Diermeier & Michael Keane & Antonio Merlo, 2002. "A Political Economy Model of Congressional Careers," PIER Working Paper Archive 04-037, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Sep 2004.
  20. Michael P. Keane & Antonio Merlo, 2007. "Money, Political Ambition, and the Career Decisions of Politicians," PIER Working Paper Archive 07-016, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  21. Harrington, Joseph Jr., 1992. "The role of party reputation in the formation of policy," Journal of Public Economics, Elsevier, vol. 49(1), pages 107-121, October.
  22. Helios Herrera & César Martinelli, 2006. "Group Formation and Voter Participation," Levine's Bibliography 666156000000000463, UCLA Department of Economics.
  23. Banks, Jeffrey S. & Sundaram, Rangarajan K., 1998. "Optimal Retention in Agency Problems," Journal of Economic Theory, Elsevier, vol. 82(2), pages 293-323, October.
  24. Gilat Levy, 2004. "A model of political parties," LSE Research Online Documents on Economics 540, London School of Economics and Political Science, LSE Library.
  25. Persson, Torsten & Roland, Gerard & Tabellini, Guido, 1997. "Separation of Powers and Political Accountability," The Quarterly Journal of Economics, MIT Press, vol. 112(4), pages 1163-1202, November.
  26. Matthias Messner & Mattias Polborn, 2003. "Paying Politicians," Working Papers 246, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  27. Andrea Mattozzi & Antonio Merlo, 2006. "Mediocracy," PIER Working Paper Archive 07-007, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  28. Sundadam, R.K. & Banks, J., 1991. "Adverse Selection and Moral hazard in a Repeated Elections Models," RCER Working Papers 283, University of Rochester - Center for Economic Research (RCER).
  29. Torsten Persson & Guido Tabellini, 2002. "Political Economics: Explaining Economic Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661314, June.
  30. Cecilia Testa, 2004. "Party Polarization and Electoral Accountability," Econometric Society 2004 Latin American Meetings 130, Econometric Society.
  31. Andrea Mattozzi & Antonio Merlo, 2005. "Political Careers or Career Politicians? Second Version," PIER Working Paper Archive 07-009, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 07 Feb 2007.
  32. Barry Nalebuff & Roni Shachar, 1997. "Follow The Leader: Theory And Evidence On Political Participation," Yale School of Management Working Papers ysm57, Yale School of Management.
  33. Alessandro Gavazza & Alessandro Lizzeri, 2009. "Transparency and Economic Policy," Review of Economic Studies, Oxford University Press, vol. 76(3), pages 1023-1048.
  34. Robert Barro, 1973. "The control of politicians: An economic model," Public Choice, Springer, vol. 14(1), pages 19-42, March.
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