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Politics Matter After All

In: Business Cycles

Author

Listed:
  • Martin Paldam

    (Aarhus University)

Abstract

The theoretical framework belongs to the family of political business cycles as are briefly surveyed in Table 14.1. We want to analyse (a) and (b). We therefore use the theory of partisan cycles (introduced by Hibbs, 1977) that takes off from the idea that governments have different ideologies, and that cycles are generated because governments change. The link between the different policies, as generated by the different ideologies, and the different outcomes depends crucially on the expectations regime assumed. In the original Hibbs-version of the theory there are no expectations.

Suggested Citation

  • Martin Paldam, 1991. "Politics Matter After All," International Economic Association Series, in: Niels Thygesen & Kumaraswamy Velupillai & Stefano Zambelli (ed.), Business Cycles, chapter 14, pages 369-405, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-11570-9_14
    DOI: 10.1007/978-1-349-11570-9_14
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    Citations

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    Cited by:

    1. Juan Carlos Berganza, 1998. "Relationships Between Politicians and Voters Through Elections: A Review Essay," Working Papers wp1998_9809, CEMFI.
    2. Stefan Krause & Fabio Méndez, 2005. "Policy Makers' Preferences, Party Ideology, and the Political Business Cycle," Southern Economic Journal, John Wiley & Sons, vol. 71(4), pages 752-767, April.
    3. Fredrik Carlsen, 1998. "Rational Partisan Theory: Empirical Evidence for the United States," Southern Economic Journal, John Wiley & Sons, vol. 65(1), pages 64-82, July.
    4. Paldam, Martin, 2018. "A model of the representative economist, as researcher and policy advisor," European Journal of Political Economy, Elsevier, vol. 54(C), pages 5-15.

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