The Political Business Cycle: How Significant?
This article provides evidence that the seasonally adjusted unemployment rate conforms to a four-year pohtical business cycle such as the one hypothesized by Nordhaus (1976) but only when the incumbent party wins the presidential election. The unemployment rate, however, is only reduced by a cumulative effect of .3 to .6 percentage points m the two years preceding a presidential victory.
Year of publication: |
1986
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Authors: | Allen, Stuart D. ; Sulock, Joseph M. ; Sabo, William A. |
Published in: |
Public Finance Review. - Vol. 14.1986, 1, p. 107-112
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