Do politicians tend to follow a strategy of ambiguity in their policy positions or a strategy of reputational development to reduce uncertainty about where they stand? Ambiguity could allow a legislator to avoid alienating constituents and to play rival interests off against each other to...

This paper provides a politive political economy analysis of the most important revision of the U.S. supervision and regulation sustem during the last two decades, the 1991 Federal Deposit Insurance Corporation Imporovement Act (FDICIA). We analyze the impact of private interest groups as well...