81 Pages Posted: 14 Dec 2005
Date Written: December 2005
In this paper, I discuss recent developments in political economy. By focusing on the microeconomic side of the discipline, I present an overview of current research on four of the fundamental institutions of a political economy: voters, politicians, parties and governments. For each of these topics, I identify and discuss some of the salient questions that have been posed and addressed in the literature, present some stylized models and examples, and summarize the main theoretical findings. Furthermore, I describe the available data, review the relevant empirical evidence, and discuss some of the challenges for empirical research in political economy.
Keywords: microeconomics of political economy, voters, politicians, parties, governments
JEL Classification: D72, D78, H11
Suggested Citation: Suggested Citation
Merlo, Antonio, Whither Political Economy? Theories, Facts and Issues (December 2005). PIER Working Paper No. 05-033. Available at SSRN: https://ssrn.com/abstract=870311 or http://dx.doi.org/10.2139/ssrn.870311