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Ignorance Isn't Bliss : Uninformed Voters Drive Budget Cycles

Janků, Jan - 2018

The paper shows that blissful ignorance does not apply to fiscal policy. In countries with insufficiently informed voters, politicians attempt to ‘buy' votes by substantially increasing government expenditures in election years and tightening the belt post election. This generates costly...

Persistent link: https://www.econbiz.de/10012930706

Trust in Public Institutions over the Business Cycle

Stevenson, Betsey; Wolfers, Justin - 2011

We document that trust in public institutions - and particularly trust in banks, business and government - has declined over recent years. U.S. time series evidence suggests that this partly reflects the pro-cyclical nature of trust in institutions. Cross-country comparisons reveal a clear...

Persistent link: https://www.econbiz.de/10014043836

The Price Elasticity of Electricity Demand in the United States : A Three-Dimensional Analysis

Burke, Paul J. - 2017

-run price elasticities of state-level electricity demand in the United States. Our sample covers the period 2003-2015. We …-level electricity demand is very price inelastic in the short run, with a same-year elasticity of -0.1. The long-run elasticity is near … demand. This appears to in part be due to electricity-intensive industrial activities clustering in low-price states …

Persistent link: https://www.econbiz.de/10012950063

Nationalism and Economic Openness : The Cross-Country Evidence Revisited

Agarwal, Vishesh - 2017

In this paper we examine the empirical relationship between economic openness and nationalism. We replicate and extend the cross-country analysis of Lan and Li (2015) using additional measures of nationalism and additional years of data from the World Values Survey. We fail to find the negative...

Persistent link: https://www.econbiz.de/10012949120

Italian Ordinary Statute Regions and Derivatives

Fantini, Giulia - 2015

Regions are first-level local administrations in Italy. Since 2003, regions have extensively used over-the-counter (OTC) derivatives. Since the use of these derivatives is not clearly regulated, derivatives have been employed to hedge outstanding debt and its costs, but there is evidence that...

Persistent link: https://www.econbiz.de/10013012221

Resource Rents, Political Rights and Civil Liberties

Breunig, Robert V. - 2020

Using data for the 2005-2017 period, we consider the effects of resource rents on the sub-components of Freedom House's measures of Political Rights and Civil Liberties. Higher resource rents lead to a deterioration in Political Pluralism and Participation, but do not affect other...

Persistent link: https://www.econbiz.de/10012840711

Democracy and Fiscal-policy Responses to COVID-19

Elgin, Ceyhun; Yalaman, Abdullah; Yasar, Sezer - 2021

In this paper, we investigate the relationship between the level of democracy and fiscal-policy response to the economic crisis induced by the COVID-19 pandemic. We use a novel cross-country dataset of fiscal-policy responses with time variation. Our results suggest that more democratic...

Persistent link: https://www.econbiz.de/10013219383

How Prediction Markets Can Save Event Studies

Snowberg, Erik - 2011

This review paper articulates the relationship between prediction market data and event studies, with a special focus on applications in political economy. Event studies have been used to address a variety of political economy questions - from the economic effects of party control of government...

Persistent link: https://www.econbiz.de/10013127433

Inventories and Optimal Monetary Policy

Lubik, Thomas A. - 2010

We introduce inventories into a standard New Keynesian Dynamic Stochastic General Equilibrium (DSGE) model to study the effect on the design of optimal monetary policy. The possibility of inventory investment changes the transmission mechanism in the model by decoupling production from final...

Persistent link: https://www.econbiz.de/10013138722

Inventories, Inflation Dynamics and the New Keynesian Phillips Curve

Lubik, Thomas A. - 2012

We introduce inventories into an otherwise standard New Keynesian model and study the implications for inflation dynamics. Inventory holdings are motivated as a means to generate sales for demand-constrained firms. We derive various representations of the New Keynesian Phillips curve with...

Persistent link: https://www.econbiz.de/10013115743

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