Gründler, Klaus; Potrafke, Niklas; Shelton, Cameron A. - In: Elgar encyclopedia of public choice, (pp. 468-475). 2025
In a world of Downsian convergence, economic policy and economic outcomes are unaffected by the identity of the governing political party. We do not live in this world. Advanced Western democracies exhibit marked divergence between parties, and consequently, policies and outcomes oscillate with...