IRCPPS in the Links: Does Money Affect the Outcomes of US Elections?

The Monkey Cage tackles the question:

...Candidates who raise a lot of money tend to do better, and it’s more likely than not that at least part of this relationship is due to money paying for things like ads and canvassers that help candidates win over new voters and/or turn out their bases. High-quality challengers may be deterred by large war chests, but other factors such as local political conditions and incumbent quality are more important: in most cases, a much-despised incumbent with a lot of money is in a worse position than a much-liked incumbent with very little money...