Aidt, Toke; Asatryan, Zareh; Badalyan, Lusine; … - 2015
We study the short-run effect of elections on monetary aggregates in a sample of 85 low and middle income democracies (1975 - 2009). We find an increase in the growth rate of M1 during election months of about one tenth of a standard deviation. A similar effect can neither be detected in...