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The political economy of medieval Europe was shaped by alliances between lords and vassals, forged through peaceful and violent means. We model coalition formation through bargaining or by conquest, and where members can rebel against their coalition. We derive conditions under which a realm...
Persistent link: https://www.econbiz.de/10014237556
Pandemics have heterogeneous effects on the health and economic outcomes of members of the population. To stay in power, politician-policymakers have to consider the health vulnerability-economic vulnerability (HV-EV) profiles of their coalition. We show that the politically optimal pandemic...
Persistent link: https://www.econbiz.de/10014094945