Saint-Paul, Gilles; Ticchi, Davide; Vindigni, Andrea - C.E.P.R. Discussion Papers - 2012
We develop a theory of endogenous political entrenchment in a simple two-party dynamic model of income redistribution … with probabilistic voting. A partially self-interested left-wing party may implement (entrenchment) policies reducing the … discuss the case where the left-wing party may have the incentive to ex-ante commit to not pursue entrenchment policies once …