paths (paths that can be obtained, in a minimally robust way, as the unique local equilibrium under a policy-instrument rule … the policymaker's observation set and implementing this path as the robustly unique local equilibrium. …

paths (paths that can be obtained, in a minimally robust way, as the unique local equilibrium under a policy-instrument rule … the policymaker's observation set and implementing this path as the robustly unique local equilibrium. …

equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite … number of steps and the local equilibrium price then supports the Pareto optimal allocation. Furthermore, along the process …

equilibrium allocation of the local equilibrium. We prove that this process attains a Pareto optimal allocation after a finite … number of steps and the local equilibrium price then supports the Pareto optimal allocation. Furthermore, along the process …

regions around each local equilibrium. Introducing costs into the political system can make the local equilibria the globally …

regions" around each local equilibrium. Introducing costs into the political system can make the local equilibria the globally … majority rule equilibria, and it characterizes "stability regions" around each local equilibrium. Introducing costs into the …, education sub- sidies, local equilibrium, non-median voter equilibrium JEL classi�cation: D7, H2 Department of Economics …