How did monarchs influence coalition governments' portfolio allocation? This study examines formateur bonuses across all European constitutional monarchies from 1901-1999.

Data & Methods

The analysis uses a new dataset tracking portfolio assignments in democratic coalition cabinets during the period. By comparing countries where monarchs retained discretion with those where powers were constrained, the research identifies pivotal reform dates.

Key Findings︎⃣

Formateurs received significantly larger bonuses when monarchs exercised discretionary power. This positive correlation between royal influence and financial rewards holds strong until constitutional reforms limit royal roles.

Method & Significance︎⃣

The paper employs difference-in-differences analysis, contrasting reformed countries with similar non-reforming ones during the same timeframe (1901-1999). This approach confirms that greater royal discretion directly led to higher formateur bonuses.