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Partisan Effects in Economies with Variable Electoral Terms

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  • Ellis, Christopher J
  • Thoma, Mark A

Abstract

In fixed-time electoral economies, partisan surprises are associated with a change in government as in Alberto Alesina (1987). This paper models additional partisan surprises present in variable-electoral-term economies due to the timing of the change in government. Two versions of the model are presented, one in which the timing of the change is exogenous and one in which it is endogenous. The model is interesting as it provides an explanation of movements in expected inflation, output, and employment in all periods, not just those immediately after an election as in fixed-electoral-term models. Copyright 1991 by Ohio State University Press.

Suggested Citation

  • Ellis, Christopher J & Thoma, Mark A, 1991. "Partisan Effects in Economies with Variable Electoral Terms," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(4), pages 728-741, November.
    • Handle: RePEc:mcb:jmoncb:v:23:y:1991:i:4:p:728-41
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    Cited by:

    1. Meon, Pierre-Guillaume, 2001. "A Model of Exchange Rate Crises with Partisan Governments," Journal of Macroeconomics, Elsevier, vol. 23(4), pages 517-535, October.
    2. Berlemann, Michael & Markwardt, Gunther, 2006. "Variable rational partisan cycles and electoral uncertainty," European Journal of Political Economy, Elsevier, vol. 22(4), pages 874-886, December.
    3. António Caleiro, 2005. "On some of the consequences of being possible to call early elections," Economics Working Papers 4_2005, University of Évora, Department of Economics (Portugal).
    4. George Tridimas, 2017. "Constitutional choice in ancient Athens: the evolution of the frequency of decision making," Constitutional Political Economy, Springer, vol. 28(3), pages 209-230, September.
    5. Michael Berlemann & Gunther Markwardt, 2007. "Unemployment and Inflation Consequences of Unexpected Election Results," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(8), pages 1919-1945, December.
    6. Heckelman, Jac C., 2001. "Partisan Business Cycles under Variable Election Dates," Journal of Macroeconomics, Elsevier, vol. 23(2), pages 261-275, April.
    7. Caleiro, António, 2006. "On the Synchronisation of Elections -- A differential Games Approach," EconStor Preprints 142775, ZBW - Leibniz Information Centre for Economics.
    8. Chrétien, Stéphane & Coggins, Frank, 2009. "Election outcomes and financial market returns in Canada," The North American Journal of Economics and Finance, Elsevier, vol. 20(1), pages 1-23, March.

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