@techreport{NBERw2354,
 title = "An Overlapping Generations Model of Electoral Competition",
 author = "Alberto Alesina and Stephen E. Spear",
 institution = "National Bureau of Economic Research",
 type = "Working Paper",
 series = "Working Paper Series",
 number = "2354",
 year = "1987",
 month = "August",
 URL = "http://www.nber.org/papers/w2354",
 abstract = {This paper presents a dynamic model of political competition between two "parties" with different policy preferences. A "party" is explicitly modeled as a sequence of overlapping generations of candidates, all of whom face finite decision horizons. In general, there is a conflict between the interests of the individual policymakers and those of the "party" , which includes subsequent generations of candidates. We characterize this conflict and suggest a scheme of "intergenerational transfers" within the party which can resolve or mitigate this conflict. The paper shows how the "overlapping generations" model can be usefully applied to the political arena.},
}