Stock Ownership and Congressional Elections: The Political Economy of the Mutual Fund Revolution.
We find that higher stock ownership rates are linked to an upward shift in the Republican share of the House popular vote since the late 1980s, consistent with theories that property interests affect voting. To proxy for discontinuous stock ownership rates, we use equity mutual fund costs, which hav...
| Publicado en: | Economic Inquiry Vol. 46; no. 3; pp. 454 - 480 |
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| Autores principales: | , |
| Formato: | Artículo |
| Publicado: |
Wiley-Blackwell
July 2008
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| Materias: | |
| Acceso en línea: | Ver este registro en EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=510827751&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 510827751 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00952583 EIQ jtl: Economic Inquiry issn: 00952583 maglogo: N pubinfo: dt: July 2008 vid: 46 iid: 3 pid: 480 pub: Wiley-Blackwell artinfo: ui: 510827751 10.1111/j.1465-7295.2007.00083.x ppf: 454 ppct: 26 formats: fmt: – @attributes: type: T – @attributes: type: P size: 1.6MB tig: atl: Stock Ownership and Congressional Elections: The Political Economy of the Mutual Fund Revolution. aug: au: Duca, John V. Saving, Jason L. su: Mathematical models United States legislators United States Congressional elections Stock ownership sug: subj: Mathematical models United States legislators United States Congressional elections Stock ownership ab: We find that higher stock ownership rates are linked to an upward shift in the Republican share of the House popular vote since the late 1980s, consistent with theories that property interests affect voting. To proxy for discontinuous stock ownership rates, we use equity mutual fund costs, which have fallen, are negatively correlated with stock ownership rates and the Republican vote share in the long run, and help explain short-run changes along with midterm elections, economic conditions, and presidential popularity. Findings suggest that the major parties' shares of the House popular vote will fluctuate around 50% until other factors trigger a political realignment. (JEL D72, G11) Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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