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Political Credit Cycles : The Case of the Euro Zone

Fernandez-Villaverde, Jesus - 2013

process in Greece, Spain, Ireland, and Portugal and, by way of contrast, in Germany, a country that did experience a reform …

Persistent link: https://www.econbiz.de/10012459762

Rules, Discretion, and Central Bank Independence : The German Experience 1880-1989

Eschweiler, Bernhard - 1993

best. Monetary policy in Germany during the past one hundred years provides an excellent case to assess the empirical … authority in 1876, Germany has participated in four monetary regimes: the pre-war gold standard, the inter-war gold standard … in Germany was always geared toward maintaining price stability with the exception of the two world war periods. Germany …

Persistent link: https://www.econbiz.de/10012474395

Is There a Role for Monetary Aggregates in the Conduct of Monetary Policy?

Estrella, Arturo - 1996

We examine the potential policy role of monetary aggregates by attempting to use them as effectively as possible in the analysis of empirical relationships. We consider three possible roles: as information variables, as indicators of policy actions and as instruments in a policy rule. These...

Persistent link: https://www.econbiz.de/10012472983

Political Parties and the Business Cycle in the United States, 1948-1984

Alesina, Alberto - 1986

This paper tests the existence and the extent of a politically induced business cycle in the U.S. in the post-World War II period. The cycle described in this paper is different from the traditional "political business cycle" of Nordhaus. It is based on a systematic difference between the...

Persistent link: https://www.econbiz.de/10012477132

Elections and Macroeconomic Policy Cycles

Rogoff, Kenneth - 1986

There is an extensive empirical literature on political business cycles, but its theoretical foundations are grounded in pre-rational expectations macroeconomic theory. Here we show that electoral cycles in taxes, government spending and money growth can be modeled as an equilibrium signaling...

Persistent link: https://www.econbiz.de/10012477238

Inversions in US Presidential Elections : 1836-2016

Geruso, Michael - 2019

Inversions--in which the popular vote winner loses the election--have occurred in 4 US Presidential elections. We show that rather than being statistical flukes, inversions have been ex ante likely since the 1800s. In elections yielding a popular vote margin within one percentage point (which...

Persistent link: https://www.econbiz.de/10012480191

Pork Barrel Cycles

Drazen, Allan - 2006

We present a model of political budget cycles in which incumbents influence voters by targeting government spending to specific groups of voters at the expense of other voters or other expenditures. Each voter faces a signal extraction problem: being targeted with expenditure before the election...

Persistent link: https://www.econbiz.de/10012466478

Political Budget Cycles in New versus Established Democracies

Brender, Adi - 2004

Like other recent studies, we find the existence of a political deficit cycle in a large cross-section of countries. However, we find that this result is driven by the experience of new democracies'. The strong budget cycle in those countries accounts for the finding of a budget cycle in larger...

Persistent link: https://www.econbiz.de/10012468154

Political Economics and Macroeconomic Policy

Persson, Torsten - 1997

This paper surveys the recent literature on the theory of macroeconomic policy. We study the effect of various incentive constraints on the policy making process, such as lack of credibility, political opportunism, political ideology, and divided government. The survey is organized in three...

Persistent link: https://www.econbiz.de/10012472486

Using Electoral Cycles in Police Hiring to Estimate the Effect of Policeon Crime

Levitt, Steven D. - 1995

Previous empirical studies have typically uncovered little evidence that police reduce crime. One problem with those studies is a failure to adequately deal with the simultaneity between police and crime: while police may or may not reduce crime, there is little doubt that expenditures on police...

Persistent link: https://www.econbiz.de/10012473907

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