Premium
Presidential Reputation and the Veto
Author(s) -
McCarty Nolan M.
Publication year - 1997
Publication title -
economics and politics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.822
H-Index - 45
eISSN - 1468-0343
pISSN - 0954-1985
DOI - 10.1111/1468-0343.00017
Subject(s) - veto , legislature , presidential system , reputation , incentive , power (physics) , political science , law and economics , economics , business , law , politics , market economy , physics , quantum mechanics
This paper develops a dynamic model of the bargaining between a legislature and an executive with veto power. The dynamic nature of the model provides the executive with incentives to use the veto as a reputation building device in order to gain more favorable legislative outcomes. The model illustrates that the implicit threat of building a reputation may cause the legislature will be more accommodating in its proposals to the executive. The model illustrates the possibility of a ``honeymoon period'' of legislative accommodation followed by a decline in the president's influence. This paper also explores ways in which the legislature might mitigate the effects of presidential reputation building.