This paper presents a politico-economic model that includes a mutual link between life cycle earnings mobility and redistributive politics. The model demonstrates that when an economy features a high opportunity of upward mobility and high risk of downward mobility, it attains a unique...

This paper presents a politico-economic model including a mutual link between earnings mobility and redistribution policy affected by human capital risk. A lowrisk economy produces multiple equilibria: a poor-majority equilibrium with lower mobility and higher redistribution and a rich-majority...

This paper presents a politico-economic model including a mutual link between earnings mobility and redistribution policy affected by human capital risk. The model demonstrates that a low-risk economy produces multiple equilibria: an unskilled- majority equilibrium with lower mobility and higher...

This paper presents a politico-economic model that includes a mutual link between earnings mobility and redistributive politics. The model demonstrates that an economy attains a unique, unskilled-majority equilibrium where unskilled, lowincome agents support a low, rather than a high,...