Power Fluctuations and Political Economy
---- Acknowledgements ----
We thank participants at the Canadian Institute of Advanced Research, Econometric Society Meeting 2006, Erasmus, EUI, LAEF conference "Dynamic Political Economy and Optimal Taxation", Minneapolis Fed conference "Economics without Frontiers", MIT, New Economic School, University of Pennsylvania, University of Washington, Society of Economic Dynamics, Stanford, Stockholm, and Yale. Golosov and Tsyvinski thank Einaudi Institute for Economics and Finance for hospitality. Golosov thanks NSF CAREER grant for financial support. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.