How partisan politics influence government policies in response to ageing populations

Since old-age programmes mitigate life-course risks that are relevant to individuals across socio-economic groups in ageing societies, all parties have a political incentive to support these initiatives. Nevertheless, pre-existing partisan commitments bind the policy instruments that parties use. Cabinet-level analyses of OECD economies demonstrate that left incumbency relies more on public expenditure than right-wing governments. What is more important is that, in the context of large elderly populations, pension coverage is greater under right-leaning governments, while pension replacement rates are higher in left-leaning governments. This shows that party behaviour related to life course-related policies cannot be explained by the conventional pro-expansion versus the pro-retrenchment partisan politics. Rather, a focus on partisan variation in the use of policy instruments is required.

Party Food: A Partisan History of Food & Farming in America

“Voting with your fork” is a common mantra for those concerned with food politics. However, real voting requires one to choose between Democrats and Republicans—and most food voters do not know the partisan history of food politics. Party Food is written for farmers and foodies who want to understand the political history of food policy, and it offers a primer on each party’s approach to food policy. As a political scientist who is also a commercial farmer, Harris offers fresh, professional insight into the lay of the land in American food politics. In Party Food, Harris unpacks the political foundations of contemporary farm policy and expertly explains the “team sport” of partisan politics as it plays out in the food politics landscape. Party Food introduces the Democratic and Republican Heroes (and Villains!) of food politics, offering an accessible insight into each political party’s policy “menu” and team play in Presidential and Congressional politics.

The integration of environmental objectives in the common agricultural policy—partisan politics in the European Parliament

This study examines the policy preferences of political groups in the 8th European Parliament regarding the design of agricultural policy and the integration of environmental goals therein. Due to the high degree of Europeanization of the Common Agricultural Policy, the analysis of party positions at the EU level is particularly interesting. To what extent are the positions of political groups changing against the background of the increasing public awareness for environmental and animal welfare issues in agricultural policy? By means of a discourse network analysis of the plenary debates on selected policy proposals during the 8th term of the European Parliament, the positions of the political groups in agricultural policymaking are explored. The comparative analysis clearly reveals differences in problem perceptions and preferred policy solutions between the different political groups. Substantive differences are apparent between the EPP on the one side and the Greens/EFA and the GUE/NGL on the other side. EPP members still mostly represent traditional agricultural goals such as food security and income support for farmers, whereas the Greens/EFA and the GUE/NGL deputies promote a change towards a more environmentally and animal welfare friendly agricultural policy. At the same time, the analysis reveals a broad consensus across political groups regarding the general need to increasingly integrate sustainability concerns in the design of the future Common Agricultural Policy.

Partisan political connections, ethnic tribalism, and firm performance

This paper investigates the impact of partisan political connections and ethnic tribalism on firm performance in a hyper-partisan political environment. Although existing literature generally shows that political connections improve firm performance, we argue that under the theory of electoral competition, political connections can be a double-edged sword because of the tension of partisan politics. Hence, we expect that changes in government can affect firm performance. Using a unique dataset from Nigeria, we find that political connections are valuable when a firm's patron party is in power, whereas they are detrimental to firm value when their patron party is in opposition. Furthermore, we find that CEO ethnic tribal affiliation with the President improves firm performance even when the firm's patron party is in opposition. This paper extends the literature on political connections and helps managers and policymakers understand the timely use of political connections in a hyper-partisan environment.

Hedging on the Hill: Does Political Hedging Reduce Firm Risk?

We examine whether firms’ political hedging activities are effective at mitigating political risk. Focusing on the risk induced by partisan politics, we measure political hedging as the degree to which firms’ political connections are balanced across Republican and Democratic candidates. We find that greater political hedging is associated with reduced stock return volatility, particularly during periods of higher policy uncertainty. Similarly, greater political hedging is associated with reduced crash risk, investment volatility, and earnings volatility. Moreover, the reduction in earnings volatility appears to relate to both a firm’s taxes and its operating activities, as we find that greater political hedging is associated with reduced cash effective tax rate volatility and pretax income volatility. We further find investors are better able to anticipate future earnings for firms that engage in political hedging, suggesting that political hedging helps improve firms’ information environments. Lastly, we perform an event study using President Obama’s Clean Power Plan. We find that on the days this policy proposal was debated in Congress, energy and utility firms experienced heightened intraday return volatility (relative to other firms and nonevent days). However, this heightened volatility is mitigated for energy and utility firms that are more politically hedged. Overall, we conclude that political hedging is an effective risk management tool that helps mitigate firm risk. This paper was accepted by Suraj Srinivasan, accounting.

Sports at Play in American Politics

Sports have been a vital element to American entertainment for decades, which are only gaining popularity. Various sport events allow Americans to temporarily escape the stress associated with their social lives and the divisiveness of partisan politics; however, a closer look at the numerous features of sport games reveal an intricate connection between American sports and politics. With the mandatory playing of the national anthem and the integration of sports and political terminology, sport games in America have become a platform to impose various political ideals. This paper will first introduce how the usage of sport terminologies in politics can simplify a complex process into a game of “winners and losers,” which can further political polarization and disincentivize bipartisan collaboration. It will then aim to demonstrate how the imposition of novel rituals that stem from nationalistic and militaristic values can silent dissenting opinions and enforce a homogenous yet unjustified “American Identity.” However, the final part of this paper aims to showcase the alternate impacts that sports can have on politics, especially in the realm of sports-driven activism. This paper does not aim to take a stance on the exact impact that sports can have on American politics, as it is mostly likely to be multi-dimensional, but to unveil to the reader how sports, an entity that is seemingly designed as a form of escape from political agendas, can in reality have substantial impacts on America’s political atmosphere.

Credentialed Contrarians: The Misrepresentation of Climate Change Expertise in Congress

Does partisan politics distort the representation of climate change expertise in U.S. policymaking? To examine this question, we classify each Congressional witness who testified on climate change between 1997 and 2016 in terms of both their expert credentials and their climate change beliefs. In contrast to prevailing wisdom, we find that Republicans are slightly more likely to call credentialed experts than Democrats. However, this pattern is largely driven by the presence of credentialed contrarians, i.e., experts who have contradicted widely accepted conclusions of their own community. Although these individuals represent less than one percent of climate change experts outside of Congress, they account for over a quarter of expert testimonies in Congress. More generally, these findings illustrate how politicians at odds with the expert community can strategically and repeatedly select the small minority of individuals who both lend credibility to their political views and meet shared standards of professionalized expertise.

Finlandization, Neutrality, or Kekkoslovakia? Paasikivi–Kekkonen’s Line in Finnish Discourses 30 Years after the End of the Cold War

Although the Cold War ended thirty years ago, the Paasikivi–Kekkonen’s line, which characterized Finland’s foreign and domestic politics in the Cold War era, remains an essential element of various competing discourses in the country. This article is based on a study of the “Paasikivi–Kekkonen’s line” concept as a fl oating signifi er frequently used in competing Finnish discourses, including those on the Finnish–Russian relations, on the Finnish foreign policy strategy, and on Finnish domestic politics. The discourse on the relations with Russia involves the proponents of continuing with the Paasikivi–Kekkonen’s line aiming at transforming Russia’s geographical proximity into an opportunity for Finland, and those who oppose this line on the grounds that in the Cold War era it resulted in a shameful “Finlandization” of the country. The Finnish discourse on the country’s foreign policy strategy involves those who argue in favor of continuing with the Paasikivi–Kekkonen’s line, of which the core was neutrality in the Cold War era and is non-alignment today, and those in favor of giving up with non-alignment to choose the NATO option. The article discovers that Sweden plays a critical role in this discourse than Russia. Finally, the Finnish discourse on the country’s domestic politics involves those in favor of continuing with the Paasikivi–Kekkonen’s line, of which the core is consensual politics, and those who support the transition to more transparent, albeit inevitably partisan politics.