Ronnie Schöb (FU Berlin) “Populism and Impatience”
Economic Research Seminar (Department Seminar) on Wednesday, March 30th, 4.30 to 6 pm
The Department of Economics cordially invites you to the Economic Research Seminar (Department Seminar) on Wednesday, March 30th, with
Ronnie Schöb (FU Berlin) on “Populism and Impatience”
Abstract: This paper examines the relationship between impatience and populist voting in Western societies. We first show empirically that supporters of right-wing populist parties tend to be less patient than supporters of other parties. We then discuss possible reasons for this observation. First, there might be an indirect role of impatience in support for right-wing populists. Discounting future well-being relatively strongly might make impatient voters beneficiaries of right-wing populist policy, as they are less educated and have less income available than patient voters. Second, right-wing populists often advocates myopic policies, which may directly appeal to impatient voters who focus more on immediate gratification than on the long-term effects of their decisions. This channel may become the more important the more people are subject to borrowing constraints. When people cannot reoptimize intertemporally they may favor policies, which are beneficial in the short-run even though negative long-run cost outweigh these short-run benefits. A policy implication of our study is that governments may use up-front redistribution to gain voters’ support for policy measures that promises to be beneficial in the long-run such as the combat of climate change or investing in public education or modern infrastructure.
Date: Wednesday, March 30th
Time: 4.30 to 6 pm (CET)
Location: building TC, fifth floor, room TC.5.18
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