. Consistent with theories of opportunistic political cycles, this pattern is stronger when election outcomes are uncertain or in …

(1975 - 2009). We find an increase in the growth rate of M1 during election months of about one tenth of a standard … is related to systemic vote buying which requires significant amounts of cash at election times. The finely timed …

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 established OECD democracies nor in the months leading up to the election. The effect is larger in … election month monetary expansion is demand driven and can be best explained by systemic vote buying. Systemic vote buying …

higher during election years, and reduce lending patterns thereafter. The study shows that countries that enforce monetary … regulatory independence of the central bank dampens the positive effect of elections on bank lending around election years while … they amplify the reductive effects on bank lending after election periods. There is a wake-up call for countries with weak …

elections. Using annual, quarterly, and monthly data to define the election year, we find that international reserves fall …