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levels of democracy. In developed countries, especially old democracies, election-year deficits actually reduce the … countries and in new democracies, but voters are affected by growth over the leader's term in office rather than in the election …
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Do voters punish governments that introduce fiscal "austerity" measures? If so, does voter response vary according to the design (composition) of fiscal adjustments? What determines the timing of fiscal consolidations? The empirical literature on the political economy of fiscal adjustments,...
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The political budget cycle (PBC) literature argues that governments expand deficits in election years. However, what …
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