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Journal article
A Political Economy Model of Congressional Careers
The American economic review, v 95(1), pp 347-373
01 Mar 2005
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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 andestimate 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.
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Details
- Title
- A Political Economy Model of Congressional Careers
- Creators
- Daniel Diermeier - Northwestern UniversityMichael Keane - Yale UniversityAntonio Merlo - University of Pennsylvania
- Publication Details
- The American economic review, v 95(1), pp 347-373
- Number of pages
- 27
- Resource Type
- Journal article
- Language
- English
- Web of Science ID
- WOS:000228841600016
- Scopus ID
- 2-s2.0-20444367353
- Other Identifier
- 991022026961304721
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- Collaboration types
- Domestic collaboration
- Web of Science research areas
- Economics