Breuss, Fritz - In: Kyklos 61 (2008) 1, pp. 19-32
This paper tests for the Euro zone the hypothesis put forward by <link rid="b31">Sapir and Sekkat (1999)</link> that synchronizing elections might improve welfare. Implementing political business cycle features into a politico-macroeconomic model of the Euro zone allows us to simulate the effects of adopting a common...