A Political Economy Model of Congressional Careers

Diermeier, D; Keane, M; Merlo, A

A Political Economy Model of Congressional Careers

Diermeier, D Keane, M Merlo, A

Permalink

Publisher:: American Economic Association
Publication Type:: Journal Article
Citation:: The American Economic Review, 2005, 95 (1), pp. 347 - 373
Issue Date:: 2005-01

Closed Access

	Filename	Description	Size
	2005004558.pdf		199.78 kB	Adobe PDF	View/Open

Copyright Clearance Process

Recently Added
In Progress
Closed Access

This item is closed access and not available.

Full metadata record

Field	Value	Language
dc.contributor.author	Diermeier, D	en_US
dc.contributor.author	Keane, M	en_US
dc.contributor.author	Merlo, A	en_US
dc.date.issued	2005-01	en_US
dc.identifier.citation	The American Economic Review, 2005, 95 (1), pp. 347 - 373	en_US
dc.identifier.issn	0002-8282	en_US
dc.identifier.uri	http://hdl.handle.net/10453/5070
dc.description.abstract	Our main goal is to quantify the returns to a career in the United States Congress. We specify a dynamic model of career decisions of a member of Congress and estimate this model using a newly collected dataset. Given estimates of the structural model, we assess reelection probabilities, estimate the effect of congressional experience on private and public sector wages, and quantify the value of a congressional seat. Moreover, we assess how an increase in the congressional wage or the imposition of term limits would affect the career decisions of politicians and the returns from a career in Congress.	en_US
dc.publisher	American Economic Association	en_US
dc.relation.ispartof	The American Economic Review	en_US
dc.relation.isbasedon	10.1257/0002828053828464	en_US
dc.subject.classification	Economics	en_US
dc.title	A Political Economy Model of Congressional Careers	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	95	en_US
utslib.for	140213 Public Economics- Public Choice	en_US
utslib.for	14 Economics	en_US
utslib.for	15 Commerce, Management, Tourism and Services	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	closed_access
pubs.consider-herdc	false	en_US
pubs.issue	1	en_US
pubs.volume	95	en_US

Abstract:

Our main goal is to quantify the returns to a career in the United States Congress. We specify a dynamic model of career decisions of a member of Congress and estimate this model using a newly collected dataset. Given estimates of the structural model, we assess reelection probabilities, estimate the effect of congressional experience on private and public sector wages, and quantify the value of a congressional seat. Moreover, we assess how an increase in the congressional wage or the imposition of term limits would affect the career decisions of politicians and the returns from a career in Congress.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/5070