Recent studies have claimed that states with initiatives systems of legislation use this more direct from of democracy to improve productive resource allocation. This paper compares the economic performance of states with initiatives to states that do not have initiatives. We first construct a...

Recent studies have claimed that states with initiatives systems of legislation use this more direct from of democracy to improve productive resource allocation. This paper compares the economic performance of states with initiatives to states that do not have initiatives. We first construct a...

This paper constructs and examines a macroeconomic model which combines features from both real and political business cycle models. We augment a standard real business cycle tax model by allowing for varying levels of government partisanship and competence in order to replicate two important...