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Does Permanent Income Determine the Vote?

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  • Lind Jo Thori

    ()
    (University of Oslo)

Abstract

The relationship between income and voting is usually studied using current income. Instead, I estimate how permanent income affects voting and to what extent voters are forward looking. A proxy for permanent income is constructed from stated expectations about one's future economic situation. Using panel data from the Norwegian Election Study I estimate the effect of stated expectations on realized future income to compute the effect of expectations. This is then linked to voting behaviour. Contrasting permanent and transitory income, the former has a large impact and the latter has little explanatory power on voting. This supports the hypothesis of forward looking voting. A high expected permanent income increase the propensity to vote Conservative.

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Bibliographic Info

Article provided by De Gruyter in its journal The B.E. Journal of Macroeconomics.

Volume (Year): 7 (2007)
Issue (Month): 1 (July)
Pages: 1-27

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Handle: RePEc:bpj:bejmac:v:7:y:2007:i:1:n:19

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  9. Jo Thori Lind, 2010. "Do the Rich Vote Conservative Because They Are Rich?," Review of Economics and Institutions, Università di Perugia, vol. 1(2).
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Cited by:
  1. Jo Thori Lind, 2005. "Why is there so little redistribution?," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 31, pages 111-125.

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