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Do different political parties implement divergent policies which impact the citizens' welfare? The overheated debate notwithstanding, it is far from clear if this is really the case. Whereas current literature focuses on specific policy outcomes, we use real estate prices to evaluate the economic impact of municipal policies. Using a new dataset on Italian municipal elections and real estate prices, we employ a regression discontinuity approach to detect the causal effect of a change indoi:10.1111/pirs.12238 fatcat:z7cc33rzojdkvpwnjhzds2m37q