This paper presents a new model of political parties. I assume that the role of parties is to increase the commitment ability of politicians vis-à-vis the voters. Whereas a politician running alone can only offer his ideal policy, the set of policies that a party can commit to is the Pareto set of its members. I show that the commitment mechanisms provided by the institution of parties has no e...

Why are voters influenced by the views of local patrons when casting their ballots? The existing literature suggests that coercion and personal obligations underpin this form of clientelism, causing voters to support candidates for reasons tangential to political performance. However, voters who support candidates preferred by local patrons may be making sophisticated political inferences. In m...

This paper analyzes the role of yardstick competition for improving political decisions. We examine how performance comparisons across jurisdictions affect the agency problem resulting from uncertainty about politicians (adverse selection) and their policies (moral hazard). We study two forms of inefficiency: the provision of wasteful project and the failure to provide useful project .We find a...

Twitter is an important platform for sharing opinions about politicians, parties and political decisions. These opinions can be exploited as a source of information to monitor the impact of politics on society. This article analyses the sentiment of 2,704,523 tweets referring to Spanish politicians and parties from a month in 2014-15. The article makes three specific contributions: (1) enrichin...

We examine the impact of political and criminal accountability on economic growth. Governments seek to maximize their own consumption by extracting rents that are costly to growth. When citizens are able to depose politicians through elections, governments are tightly controlled. The rents politicians are able to extract increase in the length of their term. The effect of the threshold of crimi...

The Politicians’ Wage Gap: Insights from German Members of Parliament Using a unique dataset of German members of parliament with information on total earnings including outside income, this paper analyzes the politicians’ wage gap (PWG). After controlling for observable characteristics as well as accounting for selection into politics, we find a positive PWG which is statistically and economic...

Attitudes about political mavericks (politicians who cross party lines to ‘‘vote their conscience”) depend on whether people construe them in general terms or at the level of specific policy proposals. Three studies examined this hypothesis. In Study 1, participants expressed more positive views of political mavericks described generally than when prompted to consider a maverick of their own po...

Political economy theory expects politicians to use budget deficits to engineer an election-timed boom, known as the political business cycle. We challenge and contextualize this view by incorporating the financial constraints faced by governments into an electoral framework. We argue theoretically that the extent of ownership dispersion among creditors has important effects for governments’ po...

An impressive breadth of interdisciplinary research suggests that emotions have an influence on human behavior. Nonetheless, we still know very little about the emotional states of those actors whose daily decisions have a lasting impact on our societies: politicians in parliament. We address this question by making use of methods of natural language processing and a digitized corpus of text da...

The purpose of this paper is to describe an analytical tool that can be used for evaluating the value of IT by acknowledging the socio-political process of computerization. In order to validate the tool the paper exemplifies how the evaluation tool has been used in one case study. For pedagogical reasons, the analysis is limited to one actor group – the politicians. The analysis showed that the...