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Counterfiscal policies and partisan politics: evidence from industrialized countries

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  • Fredrik Carlsen
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    Abstract

    According to partisan theories of macroeconomic policy, left-wing parties are more concerned with unemployment while right-wing parties tend to weigh the costs of inflation higher. An implication of partisan theories is that partisan policy differences should depend on the state of the economy, with left-wing governments conducting relatively more expansive policies during recessions. We test whether left-wing governments are more favourably inclined towards countercyclical fiscal policies than their right-wing counterparts using a panel data set of 18 OECD countries from 1980 to 1992. The results are supportive of partisan theories. The structural deficit is significantly higher under left-wing governments when unemployment is high or rising while the ideology of the government party (parties) has no significant impact on the structural deficit when unemployment is low or falling.

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    Bibliographic Info

    Article provided by Taylor & Francis Journals in its journal Applied Economics.

    Volume (Year): 29 (1997)
    Issue (Month): 2 ()
    Pages: 145-151

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    Handle: RePEc:taf:applec:v:29:y:1997:i:2:p:145-151

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    Cited by:
    1. Serhan Cevik & Katerina Teksoz, 2014. "Deep Roots of Fiscal Behavior," IMF Working Papers 14/45, International Monetary Fund.
    2. Reichenvater, Arno, 2007. "Business Cycles, Political Incentives and the Macroeconomy: Comparison of Models," MPRA Paper 5527, University Library of Munich, Germany.
    3. Beate Jochimsen & Robert Nuscheler, 2011. "The political economy of the German Lander deficits: weak governments meet strong finance ministers," Applied Economics, Taylor & Francis Journals, vol. 43(19), pages 2399-2415.
    4. Paulo Reis Mourão, 2007. "Factores de alteração da composição da Despesa Pública: o caso norte-americano," Notas Económicas, Faculdade de Economia, Universidade de Coimbra, issue 26, pages 27-41, December.

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