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Whither Political Economy? Theories, Facts and Issues

  • Antonio Merlo

    ()

    (Department of Economics, University of Pennsylvania)

In this paper, I discuss recent developments in political economy. By focusing on the microeconomic side of the discipline, I present an overview of current research on four of the fundamental institutions of a political economy: voters, politicians, parties and governments. For each of these topics, I identify and discuss some of the salient questions that have been posed and addressed in the literature, present some stylized models and examples, and summarize the main theoretical findings. Furthermore, I describe the available data, review the relevant empirical evidence, and discuss some of the challenges for empirical research in political economy.

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File URL: http://economics.sas.upenn.edu/system/files/working-papers/05-033.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 05-033.

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Length: 81 pages
Date of creation: 01 Aug 2005
Date of revision: 01 Dec 2005
Handle: RePEc:pen:papers:05-033
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  3. Francesco Caselli & Massimo Morelli, 2001. "Bad Politicians," NBER Working Papers 8532, National Bureau of Economic Research, Inc.
  4. Andrea Mattozzi & Antonio Merlo, 2007. "Political Careers or Career Politicians?," NBER Working Papers 12921, National Bureau of Economic Research, Inc.
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  9. Myerson, Roger B., 2000. "Large Poisson Games," Journal of Economic Theory, Elsevier, vol. 94(1), pages 7-45, September.
  10. Merlo, Antonio & Wilson, Charles A, 1995. "A Stochastic Model of Sequential Bargaining with Complete Information," Econometrica, Econometric Society, vol. 63(2), pages 371-99, March.
  11. Panu Poutvaara & Tuomas Takalo, 2003. "Candidate Quality," CESifo Working Paper Series 1106, CESifo Group Munich.
  12. Myerson, Roger B., 2002. "Comparison of Scoring Rules in Poisson Voting Games," Journal of Economic Theory, Elsevier, vol. 103(1), pages 219-251, March.
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  14. Chari, V V & Jones, Larry E & Marimon, Ramon, 1997. "The Economics of Split-Ticket Voting in Representative Democracies," American Economic Review, American Economic Association, vol. 87(5), pages 957-76, December.
  15. Siddhartha Bandyopadhyay & Mandar Oak, 2006. "Coalition Governments in a Model of Parliamentary Democracy," Working Papers 2006.83, Fondazione Eni Enrico Mattei.
  16. Siddhartha Bandyopadhyay & Mandar Oak, 2004. "Party Formation and Coalitional Bargaining in a Model of Proportional Representation," Working Papers 2004.98, Fondazione Eni Enrico Mattei.
  17. Daniel Diermeier & Hulya Eraslan & Antonio Merlo, 2003. "The Effects of Constitutions on Coalition Governments in Parliamentary Democracies," PIER Working Paper Archive 03-037, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
  18. Carrillo, Juan D. & Mariotti, Thomas, 2001. "Electoral competition and politician turnover," European Economic Review, Elsevier, vol. 45(1), pages 1-25, January.
  19. Leonardo Felli & Antonio Merlo, 2003. "Endogenous Lobbying," STICERD - Theoretical Economics Paper Series 448, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE.
  20. Daniel Diermeier & Antoni Merlo, 1999. "An Empirical Investigation of Coalitional Bargaining Procedures," Discussion Papers 1267, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  21. Myerson, Roger B., 1999. "Theoretical comparisons of electoral systems," European Economic Review, Elsevier, vol. 43(4-6), pages 671-697, April.
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  23. 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).
  24. Merlo, Antonio, 1996. "Bargaining over governments in a stochastic environment," Bulletins 7476, University of Minnesota, Economic Development Center.
  25. Amrita Dhillon & Susana Peralta, 2002. "Economic Theories Of Voter Turnout," Economic Journal, Royal Economic Society, vol. 112(480), pages F332-F352, June.
  26. Helios Herrera & Cesar Martinelli, 2006. "Group Formation and Voter Participation," Levine's Bibliography 321307000000000225, UCLA Department of Economics.
  27. Massimo Morelli, 2004. "Party Formation and Policy Outcomes under Different Electoral Systems," Review of Economic Studies, Oxford University Press, vol. 71(3), pages 829-853.
  28. Timothy Besley & Stephen Coate, 1997. "An Economic Model of Representative Democracy," The Quarterly Journal of Economics, Oxford University Press, vol. 112(1), pages 85-114.
  29. Eraslan, H. & Merlo, A., 2000. "Majority Rule in a Stochastic Model of Bargaining," Working Papers 00-05, C.V. Starr Center for Applied Economics, New York University.
  30. David P. Baron & Daniel Diermeier, 2001. "Elections, Governments, and Parliaments in Proportional Representation Systems," The Quarterly Journal of Economics, Oxford University Press, vol. 116(3), pages 933-967.
  31. Daniel Diermeier & Michael Keane & Antonio Merlo, 2005. "A Political Economy Model of Congressional Careers," American Economic Review, American Economic Association, vol. 95(1), pages 347-373, March.
  32. Stephen Coate & Michael Conlin & Andrea Moro, 2004. "The Performance of the Pivotal-Voter Model in Small-Scale Elections: Evidence from Texas Liquor Referenda," NBER Working Papers 10797, National Bureau of Economic Research, Inc.
  33. 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.
  34. Stephen Coate & Michael Conlin, 2004. "A Group Rule–Utilitarian Approach to Voter Turnout: Theory and Evidence," American Economic Review, American Economic Association, vol. 94(5), pages 1476-1504, December.
  35. Diermeier, Daniel & Eraslan, Hülya & Merlo, Antonio, 2007. "Bicameralism and Government Formation," Quarterly Journal of Political Science, now publishers, vol. 2(3), pages 227-252, August.
  36. Alesina, Alberto & Rosenthal, Howard, 1996. "A Theory of Divided Government," Econometrica, Econometric Society, vol. 64(6), pages 1311-41, November.
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  38. Messner, Matthias & Polborn, Mattias K., 2004. "Paying politicians," Journal of Public Economics, Elsevier, vol. 88(12), pages 2423-2445, December.
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  44. Daniel Diermeier & Hulya Eraslan & Antonio Merlo, 2003. "A Structural Model of Government Formation," Econometrica, Econometric Society, vol. 71(1), pages 27-70, January.
  45. Matsusaka, John G & Palda, Filip, 1993. "The Downsian Voter Meets the Ecological Fallacy," Public Choice, Springer, vol. 77(4), pages 855-78, December.
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  55. Gebhard Kirchgässner & Tobias Schulz, 2005. "Expected Closeness or Mobilisation: Why Do Voters Go to the Polls? Empirical Results for Switzerland, 1981 – 1999," CESifo Working Paper Series 1387, CESifo Group Munich.
  56. Gilat Levy, 2004. "A model of political parties," LSE Research Online Documents on Economics 540, London School of Economics and Political Science, LSE Library.
  57. Antonio Merlo & Charles Wilson, 1997. "Efficient delays in a stochastic model of bargaining," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(1), pages 39-55.
  58. Matsusaka, John G & Palda, Filip, 1999. "Voter Turnout: How Much Can We Explain?," Public Choice, Springer, vol. 98(3-4), pages 431-46, March.
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  60. Timothy J. Feddersen, 2004. "Rational Choice Theory and the Paradox of Not Voting," Journal of Economic Perspectives, American Economic Association, vol. 18(1), pages 99-112, Winter.
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  62. Moulin, Herve, 1994. "Social choice," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 31, pages 1091-1125 Elsevier.
  63. 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.
  64. Timothy Besley & Stephen Coate, 2001. "Lobbying and Welfare in a Representative Democracy," Review of Economic Studies, Oxford University Press, vol. 68(1), pages 67-82.
  65. Arianna Degan & Antonio Merlo, 2004. "Do Citizens Vote Sincerely (If They Vote at All)? Theory and Evidence from U. S. National Elections," PIER Working Paper Archive 04-014, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania.
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