Term limits and political accountability

摘要: This paper analyses the impact of term limits in a political agency model. We find that reduce value holding office. reduction re-election incentive can induce politicians to implement policies are closer their own private preferences. Such "truthful" behaviour by incumbents will turn result better screening whose preferences do not correspond voters' show these effects make two-term limit, which is empirically most frequent restriction on tenure, ex ante welfare improving from perspective voters