| 000 | 01676nab a2200277 c 4500 | ||
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| 999 |
_c146865 _d146865 |
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| 003 | ES-MaIEF | ||
| 005 | 20221205124349.0 | ||
| 007 | ta | ||
| 008 | 221205t2022 us ||||| |||| 00| 0|eng d | ||
| 040 |
_aES-MaIEF _bspa _cES-MaIEF |
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| 100 | 1 |
_970262 _aBernhardt, Dan |
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| 245 | 0 |
_aDemagogues and the economic fragility of democracies _c by Dan Bernhardt, Stefan Krasa and Mehdi Shadmehr |
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| 500 | _aResumen. | ||
| 504 | _aBibliografía. | ||
| 520 | _aWe investigate the susceptibility of democracies to demagogues, studying tensions between representatives who guard voters' long-run interests and demagogues who cater to voters' short-run desires. Parties propose consumption and investment. Voters base choices on current-period consumption and valence shocks. Younger/poorer economies and economically disadvantaged voters are attracted to the demagogue's disinvestment policies, forcing farsighted representatives to mimic them. This electoral competition can destroy democracy: if capital falls below a critical level, a death spiral ensues with capital stocks falling thereafter. We identify when economic development mitigates this risk and characterize how the death-spiral risk declines as capital grows large. | ||
| 650 | 4 |
_941808 _aDEMOCRACIA |
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| 650 | 7 |
_967114 _aPOPULISMO |
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| 650 |
_aDESARROLLO ECONOMICO _950224 |
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| 650 |
_aDESIGUALDAD _942588 |
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| 650 |
_aPOBREZA _948038 |
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| 650 |
_aMODELOS ECONOMETRICOS _947776 |
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| 700 |
_924187 _aKrasa, Stefan |
||
| 700 | 1 |
_970263 _aShadmehr, Mehdi |
|
| 773 | 0 |
_9168553 _oOP 234/2022/10 _tThe American Economic Review _w(IEF)103372 _x 0002-8282 _gv. 112, n. 10, October 2022, p. 3331-3366 |
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| 942 | _cART | ||