Fiscal rules, i.e., constraints to the policymaking discretion of elected officials in terms of deficit and expenditures, are widely used tools to regulate fiscal policies. This paper shows that they can negatively affect the quality of candidates willing to run for office. We build a simple...

Do electoral incentives affect immigration policies? I study this question in the setting of Italian municipalities making decisions about the reception of refugees. The localized control of the reception policy (SPRAR), combined with the exogenous timing of policy decisions and staggered...

We claim that the emergence of trust is best explained by relation-based arguments. After brie fly surveying alternative explanations which concentrate on material payoffs both with self-centered and with other-regarding preferences, we examine theoretical discussions of cooperative and trust...

Is competition in the mass media market an effective deterrent against media capture? Does it prevent political groups from influencing reporting? This paper shows that in some cases it does not. Building on the literature on media capture, the model highlights that, under fairly generic...

We investigate differences in the economic performance of secular and religious local rulers in Medieval England. Exploiting the Norman conquest of England as a historical experiment, we compare economic outcomes of estates controlled by secular feudal landlords, Benedictine monasteries and...

Conventional wisdom suggests that competition in the modern digital environment is pushing media outlets towards early release of less accurate information. We show that this is not necessarily the case. We argue that two opposing forces determine the resolution of the speed-accuracy tradeoff:...

We study the implications of state dependent costs of policy mismatch in political agency models where politicians have reputational concerns over their preferences and the "good'' politician shares the same objectives of the voters. We find that state-dependent costs can make pandering...

This paper proposes a game theoretical model of technocratic government, i.e. cases where a non political technocrat is put in charge by political parties. Based on the literature on post-electoral politics, we show conditions for the existence of a technocratic government equilibrium, where...

We study whether a better knowledge of the functioning of pay-as-you-go pension systems and recent demographic trends in the hosting country affects natives' attitudes towards immigration. In two online experiments in Italy and Spain, we randomly treated participants with a video explaining how,...

We study the effect of economic insecurity on electoral outcomes using data on municipal elections in Italy. We implement a difference-in-differences approach that exploits exogenous variation across municipalities in the share of inactive workers due to the economic lockdown introduced by the...