I establish a folk theorem for a model of repeated elections with adverse selection: when citizens are sufficiently patient, arbitrary policy paths through arbitrarily large regions of the policy space can be supported by a refinement of perfect Bayesian equilibrium. Politicians are...

We develop and implement a collocation method to solve for an equilibrium in the dynamic legislative bargaining game of Duggan and Kalandrakis (2008). We formulate the collocation equations in a quasi-discrete version of the model, and we show that the collocation equations are locally Lipchitz...

We formalize the concept of media slant as a relative emphasis on di¤erent issues of political interest by the media, and we illustrate the e¤ects of the media choice of slant on political outcomes and economic decisions in a rational expectations model. In a two-candidate elec- tion, if the...

We propose a general model of repeated elections. In each period, a challenger is chosen from the electorate to run against an incumbent politician in a majority-rule election, and the winner then selects a policy from a multidimensional policy space. Individual policy preferences are private...