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Fomc Voting Behavior And Electoral Cycles: Partisan Ideology And Partisan Loyalty

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  • Rob Roy McGregor

Abstract

The influence of partisan and electoral considerations on the monetary policy voting behavior of Federal Reserve Governors is investigated in the context of a model permitting the estimation of reaction functions on the basis of FOMC voting records. The results suggest that once we have controlled for the state of the economy and for the prevailing stance of monetary policy, both partisan ideologies and partisan loyalties appear to play an important role in the Governors’voting calculus.

Suggested Citation

  • Rob Roy McGregor, 1996. "Fomc Voting Behavior And Electoral Cycles: Partisan Ideology And Partisan Loyalty," Economics and Politics, Wiley Blackwell, vol. 8(1), pages 17-32, March.
    • Handle: RePEc:bla:ecopol:v:8:y:1996:i:1:p:17-32
    DOI: 10.1111/j.1468-0343.1996.tb00118.x
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