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Financial expectations and the ‘left–right’ political value scale: Testing for the POUM hypothesis

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  • Buscha, Franz

Abstract

Using a uniquely defined indicator of political ideology we test whether expectations of future financial well-being have an effect on an individual’s position on the political ‘left–right’ spectrum. We find evidence of a significant “prospect of upward mobility” effect.

Suggested Citation

  • Buscha, Franz, 2012. "Financial expectations and the ‘left–right’ political value scale: Testing for the POUM hypothesis," Economics Letters, Elsevier, vol. 115(3), pages 460-464.
    • Handle: RePEc:eee:ecolet:v:115:y:2012:i:3:p:460-464
    DOI: 10.1016/j.econlet.2011.12.121
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    References listed on IDEAS

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    1. Roland Benabou & Efe A. Ok, 2001. "Social Mobility and the Demand for Redistribution: The Poum Hypothesis," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 116(2), pages 447-487.
    2. Sturgis, Patrick, 2002. "Attitudes and Measurement Error Revisited: A Reply to Johnston and Pattie," British Journal of Political Science, Cambridge University Press, vol. 32(4), pages 691-698, October.
    3. Alesina, Alberto & La Ferrara, Eliana, 2005. "Preferences for redistribution in the land of opportunities," Journal of Public Economics, Elsevier, vol. 89(5-6), pages 897-931, June.
    4. Rainer, Helmut & Siedler, Thomas, 2008. "Subjective income and employment expectations and preferences for redistribution," Economics Letters, Elsevier, vol. 99(3), pages 449-453, June.
    5. Ravallion, Martin & Lokshin, Michael, 2000. "Who wants to redistribute?: The tunnel effect in 1990s Russia," Journal of Public Economics, Elsevier, vol. 76(1), pages 87-104, April.
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    Cited by:

    1. Bettina Schuck & Jennifer Shore, 2019. "How Intergenerational Mobility Shapes Attitudes toward Work and Welfare," The ANNALS of the American Academy of Political and Social Science, , vol. 682(1), pages 139-154, March.
    2. Laméris, Maite D. & Garretsen, Harry & Jong-A-Pin, Richard, 2020. "Political ideology and the intragenerational prospect of upward mobility," European Journal of Political Economy, Elsevier, vol. 62(C).

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    More about this item

    Keywords

    Prospect of upward mobility; Political ideology; Party support;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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