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Autor:innen: 
Erscheinungsjahr: 
2018
Schriftenreihe/Nr.: 
CESifo Working Paper No. 7406
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
This paper estimate causal effects of being elected in a local election on monetary returns. The claim for causality can be made thanks to a research design where the income of some candidate who just barely won a seat is compared to that of some other candidate who was close to winning a seat for the same party, but ultimately did not. The design is made possible thanks to comprehensive data covering all political candidates in the period 1991{2006. I establish that monetary returns are absent both in the short and long run. Instead, politicians seem to be motivated by non-monetary returns, and I show that being elected locally once can be an effective starting point for enjoying such payoffs.
Schlagwörter: 
returns to politics
incumbency effects
regression discontinuity design
JEL: 
C23
D72
J44
Dokumentart: 
Working Paper
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