Maloney, John; Pickering, Andrew - In: Public Choice 162 (2015) 1, pp. 119-133
<Para ID="Par1"> Sophisticated voters assess incumbent competence by filtering out economic cycles (which they do not like) from trend growth (which they do). Naive voters on the other hand respond only to raw economic growth. This implies that voting in the aggregate should respond asymmetrically to the...</para>