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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. Mattozzi, Andrea & Merlo, Antonio, 2007. "Political Careers or Career Politicians?," CEPR Discussion Papers 6164, C.E.P.R. Discussion Papers.
  2. Andrea Prat, 2004. "The wrong kind of transparency," LSE Research Online Documents on Economics 24712, London School of Economics and Political Science, LSE Library.
  3. Panu Poutvaara & Tuomas Takalo, 2004. "Candidate Quality," Public Economics 0406009, EconWPA.
  4. Persson, Torsten & Tabellini , Guido, 1997. "Political Economics and Macroeconomic Policy," Seminar Papers 630, Stockholm University, Institute for International Economic Studies.
  5. Andrea Mattozzi & Antonio Merlo, 2006. "Mediocracy," PIER Working Paper Archive 07-007, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  6. 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).
  7. Cesar Martinelli & Helios Herrera, 2005. "Group Formation and Voter Participation," 2005 Meeting Papers 687, Society for Economic Dynamics.
  8. Martin J. Osborne & Rabee Tourky, 2008. "Party Formation in Single-Issue Politics," Journal of the European Economic Association, MIT Press, vol. 6(5), pages 974-1005, 09.
  9. Ernesto Dal Bo & Pedro Dal Bo & Jason Snyder, . "Political Dynasties," Working Papers 2006-15, Brown University, Department of Economics.
  10. Echenique, Federico & Edlin, Aaron S., 2004. "Mixed equilibria are unstable in games of strategic complements," Berkeley Olin Program in Law & Economics, Working Paper Series qt1ht651hk, Berkeley Olin Program in Law & Economics.
  11. Robert Barro, 1973. "The control of politicians: An economic model," Public Choice, Springer, vol. 14(1), pages 19-42, March.
  12. Gilat Levy, 2004. "A model of political parties," LSE Research Online Documents on Economics 540, London School of Economics and Political Science, LSE Library.
  13. Alesina, Alberto & Spear, Stephen E., 1988. "An overlapping generations model of electoral competition," Journal of Public Economics, Elsevier, vol. 37(3), pages 359-379, December.
  14. 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.
  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 Bo, 2000. "Bribing Voters," Economics Series Working Papers 39, University of Oxford, Department of Economics.
  17. Torsten Persson & Guido Tabellini, 2002. "Political Economics: Explaining Economic Policy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262661314, June.
  18. Michael P. Keane & Antonio Merlo, 2010. "Money, Political Ambition, and the Career Decisions of Politicians," American Economic Journal: Microeconomics, American Economic Association, vol. 2(3), pages 186-215, August.
  19. Tim Besley & Stephen Coate, . ""An Economic Model of Representative Democracy''," CARESS Working Papres 95-02, University of Pennsylvania Center for Analytic Research and Economics in the Social Sciences.
  20. Barry Nalebuff & Ron Shachar, 1999. "Follow the Leader: Theory and Evidence on Political Participation," American Economic Review, American Economic Association, vol. 89(3), pages 525-547, June.
  21. Alessandro Gavazza & Alessandro Lizzeri, 2009. "Transparency and Economic Policy," Review of Economic Studies, Oxford University Press, vol. 76(3), pages 1023-1048.
  22. Cecilia Testa, 2004. "Party Polarization and Electoral Accountability," Econometric Society 2004 Latin American Meetings 130, Econometric Society.
  23. 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.
  24. 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.
  25. Caselli, Francesco & Morelli, Massimo, 2004. "Bad politicians," Journal of Public Economics, Elsevier, vol. 88(3-4), pages 759-782, March.
  26. 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.
  27. John Ferejohn, 1986. "Incumbent performance and electoral control," Public Choice, Springer, vol. 50(1), pages 5-25, January.
  28. Bernard Caillaud & Jean Tirole, 2002. "Parties As Political Intermediaries," The Quarterly Journal of Economics, MIT Press, vol. 117(4), pages 1453-1489, November.
  29. Matthias Messner & Mattias Polborn, 2003. "Paying Politicians," Working Papers 246, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
  30. Carrillo, Juan D. & Mariotti, Thomas, 2001. "Electoral competition and politician turnover," European Economic Review, Elsevier, vol. 45(1), pages 1-25, January.
  31. Banks, Jeffrey S. & Sundaram, Rangarajan K., 1998. "Optimal Retention in Agency Problems," Journal of Economic Theory, Elsevier, vol. 82(2), pages 293-323, October.
  32. Jackson, Matthew O. & Moselle, Boaz, 1998. "Coalition and Party Formation in a Legislative Voting Game," Working Papers 1036, California Institute of Technology, Division of the Humanities and Social Sciences.
  33. Daniel Diermeier & Michael Keane & Antonio Merlo, 2004. "A Political Economy Model of Congressional Careers," Discussion Papers 1387, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  34. Timothy Besley, 2005. "Political Selection," Journal of Economic Perspectives, American Economic Association, vol. 19(3), pages 43-60, Summer.
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