?url_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Adc&rft.relation=http%3A%2F%2Feprints.imtlucca.it%2F1262%2F&rft.title=A+Theory+of+Political+Entrenchment&rft.creator=Saint-Paul%2C+Gilles&rft.creator=Ticchi%2C+Davide&rft.creator=Vindigni%2C+Andrea&rft.subject=HB+Economic+Theory&rft.subject=JC+Political+theory&rft.description=We+develop+a+theory+of+endogenous+political+entrenchment+in+a+simple+two-party+dynamic+model+of+income+redistribution+with+probabilistic+voting.+A+partially+self-interested%0D%0Aleft-wing+party+may+implement+(entrenchment)+policies+reducing+the+income+of+its+own+constituency%2C+the+lower+class%2C+in+order+to+consolidate+its+future+political+power.+Such+policies+increase+the+net+gain+that+low-skill+agents+obtain+from+income+redistribution%2C+which+only+the+Left+(but+not+the+Right)+can+credibly+commit+to+provide%2C+and+therefore+may+help+o%C2%A4setting+a+potential+future+aggregate+ideological+shock+averse+to+the+left-wing+party.+We%0D%0Ademonstrate+that+political+entrenchment+by+the+Left+occurs+only+if+incumbency+rents+are+su%C2%A2+ciently+high+and+that+low-skill+citizens+may+vote+for+this+party+even+though+they+rationally+expect+the+adoption+of+these+policies.+We+also+discuss+the+case+where+the+left-wing+party+may+have+the+incentive+to+ex-ante+commit+to+not+pursue+entrenchment+policies+once+in+power.+Finally%2C+we+show+that%2C+in+a+more+general+framework%2C+the+entrenchment+policies+can+be+implemented+also+by+the+right-wing+party.+The+comparative+statics+analyzes+the+e%C2%A4ects+of+state+capacity%2C+a+positive+bias+of+voters+for+one+party+and+income+inequality+on%0D%0Athe+incentives+of+the+incumbent+party+to+pursue+entrenchment+policies.+The+importance+of+our+theory+for+constitutionally+legislated+term+limits+is+also+discussed.+The+theory+sheds+light+on+why+left-wing+parties+or+politicians+often+support+liberal+immigration+policies+of%0D%0Aunskilled+workers%2C+are+sometime+in+favor+of+free+trade+with+less+developed+economies+and+of+globalization+more+generally%2C+or+fail+to+reform+plainly+%22dysfunctional%22+public+educational+systems+damaging+the+lower+classes.&rft.publisher=Universit%C3%A9+Toulouse&rft.date=2012-03&rft.type=Working+Paper&rft.type=NonPeerReviewed&rft.format=application%2Fpdf&rft.language=en&rft.identifier=http%3A%2F%2Feprints.imtlucca.it%2F1262%2F1%2FWP_Ticchi_Vindigni_2012.pdf&rft.identifier=++Saint-Paul%2C+Gilles+and+Ticchi%2C+Davide+and+Vindigni%2C+Andrea++A+Theory+of+Political+Entrenchment.++Working+Paper++%23703%2F2012++++Universit%C3%A9+Toulouse+++++++++&rft.relation=http%3A%2F%2Fwww.idei.fr%2Fdoc%2Fby%2Fsaint_paul%2Fwp_idei_703.pdf