We study the political consequences of inflation surprises, focusing on votes for extremist and populist parties in 365 elections in 18 advanced economies since 1948. Inflation surprises are regularly followed by a substantial increase in vote shares of extremist, anti-system, and populist...

Small-scale federal democracies depend on the active participation of individuals in local political office. Both anecdotal evidence and empirical studies across Western democracies indicate a growing difficulty in recent decades to recruit candidates for municipal offices. This study examines...