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Measuring US Presidents Political Commitment for Fiscal Discipline between 1920 and 2008

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  • Francesc Pujol

    ()
    (Department of Economics, Universidad de Navarra)

Abstract

We propose a theoretical method to catch politicians' fiscal attitude concerning deficits and debt based on the analysis of the political discourse. We describe the methodological steps used to obtain it. The methodology is applied to the case of US President during the period 1920 to 2008. The results can be exploited in order to better understand the formation and the evolution of fiscal preferences and their influence on fiscal performance. As the index is based on normative and positive attitudes about deficits, their analysis can show the presence of strategic political behavior, giving thus a way to test some theoretical models on budgetary political behavior.

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File URL: http://www.unav.es/facultad/econom/files/workingpapersmodule/@random497080f7805d2/1232315200_WP_UNAV_01_09.pdf
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Bibliographic Info

Paper provided by School of Economics and Business Administration, University of Navarra in its series Faculty Working Papers with number 01/09.

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Length: 36 pages
Date of creation: 18 Jan 2009
Date of revision:
Handle: RePEc:una:unccee:wp0109

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Web page: http://www.unav.es/facultad/econom

Related research

Keywords: fiscal discipline; fiscal conservatism; political attitude; discourse analysis;

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  1. von Hagen, Jürgen, 1998. "Budgeting institutions for aggregate fiscal discipline," ZEI Working Papers B 01-1998, ZEI - Center for European Integration Studies, University of Bonn.
  2. Hayo, Bernd, 1998. "Inflation culture, central bank independence and price stability," European Journal of Political Economy, Elsevier, vol. 14(2), pages 241-263, May.
  3. Ernesto Stein & Ernesto Talvi & Alejandro Grisanti, 1999. "Institutional Arrangements and Fiscal Performance: The Latin American Experience," NBER Chapters, in: Fiscal Institutions and Fiscal Performance, pages 103-134 National Bureau of Economic Research, Inc.
  4. Douglas Holtz-Eakin, 1988. "The Line Item Veto and Public Sector Budgets: Evidence from the States," NBER Working Papers 2531, National Bureau of Economic Research, Inc.
  5. Alberto Alesina & Roberto Perotti, 1997. "Fiscal Adjustments in OECD Countries: Composition and Macroeconomic Effects," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 210-248, June.
  6. Poterba, James M, 1994. "State Responses to Fiscal Crises: The Effects of Budgetary Institutions and Politics," Journal of Political Economy, University of Chicago Press, vol. 102(4), pages 799-821, August.
  7. Hayo, Bernd & Hefeker, Carsten, 2002. "Reconsidering central bank independence," European Journal of Political Economy, Elsevier, vol. 18(4), pages 653-674, November.
  8. Holtz-Eakin, Douglas, 1988. "The line item veto and public sector budgets : Evidence from the states," Journal of Public Economics, Elsevier, vol. 36(3), pages 269-292, August.
  9. repec:fth:geneec:99.05 is not listed on IDEAS
  10. Tamim Bayoumi & Barry Eichengreen, 1995. "Restraining Yourself: The Implications of Fiscal Rules for Economic Stabilization," IMF Staff Papers, Palgrave Macmillan, vol. 42(1), pages 32-48, March.
  11. Poterba, James M., 1995. "Balanced Budget Rules and Fiscal Policy: Evidence From the States," National Tax Journal, National Tax Association, vol. 48(3), pages 329-36, September.
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Cited by:
  1. Heinemann, Friedrich & Osterloh, Steffen & Kalb, Alexander, 2014. "Sovereign risk premia: The link between fiscal rules and stability culture," Journal of International Money and Finance, Elsevier, vol. 41(C), pages 110-127.
  2. Juan Molero & Isabel Rodríguez-Tejedo, 2010. "An index of political support for decentralization: the Spanish case," Constitutional Political Economy, Springer, vol. 21(1), pages 50-79, March.

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