IDEAS home Printed from
MyIDEAS: Login to save this article or follow this journal

Searching for Keynesianism

  • Winer, Stanley L.
  • Ferris, J. Stephen

While it is clear that Keynes' General Theory of Employment, Interest and Money (1936) has influenced macroeconomic theory, the extent to which his ideas about countercyclical stabilization have altered the course of public policy remains an open question. We develop a dynamic spatial voting model that allows the estimation of a counterfactual showing what planned public budgets would have been like over the cycle if Keynesianism (as interpreted by Leijonhufvud and Clower) had not had any impact on the course of public affairs. Comparison of the counterfactual with the estimated process describing ex ante policy choices after 1950 in Canada allows for the quantification of the changes in fiscal policy that can be attributed to the Keynesian revolution.

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL:
Download Restriction: Full text for ScienceDirect subscribers only

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Article provided by Elsevier in its journal European Journal of Political Economy.

Volume (Year): 24 (2008)
Issue (Month): 2 (June)
Pages: 294-316

in new window

Handle: RePEc:eee:poleco:v:24:y:2008:i:2:p:294-316
Contact details of provider: Web page:

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

as in new window
  1. Saikkonen, Pentti, 1991. "Asymptotically Efficient Estimation of Cointegration Regressions," Econometric Theory, Cambridge University Press, vol. 7(01), pages 1-21, March.
  2. Christina D. Romer & David H. Romer, 2002. "The Evolution of Economic Understanding and Postwar Stabilization Policy," NBER Working Papers 9274, National Bureau of Economic Research, Inc.
  3. Dani Rodrik, 1998. "Why Do More Open Economies Have Bigger Governments?," Journal of Political Economy, University of Chicago Press, vol. 106(5), pages 997-1032, October.
  4. J. Ferris & Soo-Bin Park & Stanley Winer, 2008. "Studying the role of political competition in the evolution of government size over long horizons," Public Choice, Springer, vol. 137(1), pages 369-401, October.
  5. James G. MacKinnon, 1995. "Numerical Distribution Functions for Unit Root and Cointegration Tests," Working Papers 918, Queen's University, Department of Economics.
  6. Perron, P., 1990. "Further Evidence On Breaking Trend Functions In Macroeconomics Variables," Papers 350, Princeton, Department of Economics - Econometric Research Program.
  7. Mueller,Dennis C., 2003. "Public Choice III," Cambridge Books, Cambridge University Press, number 9780521894753.
  8. Pagan, Adrian, 1984. "Econometric Issues in the Analysis of Regressions with Generated Regressors," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 25(1), pages 221-47, February.
  9. Hall, Robert E, 1978. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence," Journal of Political Economy, University of Chicago Press, vol. 86(6), pages 971-87, December.
  10. Barro, Robert J, 1979. "On the Determination of the Public Debt," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 940-71, October.
  11. Stanley L. Winer, 1986. "The Role of Exchange Rate Flexibility in the International Transmission of Inflation in Long and Shorter Runs: Canada, 1953 to 1981," Canadian Journal of Economics, Canadian Economics Association, vol. 19(1), pages 62-86, February.
  12. Douglas Holtz-Eakin & Harvey S. Rosen, 1989. "Intertemporal analysis of state and local government spending: theory and tests," Working Papers 89-4, Federal Reserve Bank of Philadelphia.
  13. Alan T. Peacock & Jack Wiseman, 1961. "The Growth of Public Expenditure in the United Kingdom," NBER Books, National Bureau of Economic Research, Inc, number peac61-1, December.
  14. Campbell, John Y. & Mankiw, N. Gregory, 1990. "Permanent Income, Current Income, and Consumption," Scholarly Articles 3353762, Harvard University Department of Economics.
  15. Coughlin, Peter & Nitzan, Shmuel, 1981. "Electoral outcomes with probabilistic voting and Nash social welfare maxima," Journal of Public Economics, Elsevier, vol. 15(1), pages 113-121, February.
  16. Coughlin, Peter J. & Mueller, Dennis C. & Murrell, Peter, 1990. "A model of electroral competition with interest groups," Economics Letters, Elsevier, vol. 32(4), pages 307-311, April.
  17. Hansen, Bruce E., 1992. "Testing for parameter instability in linear models," Journal of Policy Modeling, Elsevier, vol. 14(4), pages 517-533, August.
  18. J.Stephen Ferris & Stanley L. Winer, 1999. "Searching for Keynes," Carleton Economic Papers 99-06, Carleton University, Department of Economics, revised Jun 2008.
  19. Chen, Yan, 2000. " Electoral Systems, Legislative Process, and Income Taxation," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 2(1), pages 71-100.
  20. Hettich,Walter & Winer,Stanley L., 1999. "Democratic Choice and Taxation," Cambridge Books, Cambridge University Press, number 9780521622912.
  21. James Enelow & Melvin Hinich, 1989. "A general probabilistic spatial theory of elections," Public Choice, Springer, vol. 61(2), pages 101-113, May.
  22. Lin, Tse-Min & Enelow, James M & Dorussen, Han, 1999. " Equilibrium in Multicandidate Probabilistic Spatial Voting," Public Choice, Springer, vol. 98(1-2), pages 59-82, January.
  23. Goff, Brian, 1998. " Persistence in Government Spending Fluctuations: New Evidence on the Displacement Effect," Public Choice, Springer, vol. 97(1-2), pages 141-57, October.
  24. Winer, Stanley L. & Hettich, Walter, 1991. "Debt and tariffs : An empirical investigation of the evolution of revenue systems," Journal of Public Economics, Elsevier, vol. 45(2), pages 215-242, July.
  25. Romer, Christina, 1986. "Spurious Volatility in Historical Unemployment Data," Journal of Political Economy, University of Chicago Press, vol. 94(1), pages 1-37, February.
  26. L. Dudley & U. Witt, 2002. "Yesterday's Games: Contingency Learning and the Growth of Public Spending," Papers on Economics and Evolution 2002-02, Philipps University Marburg, Department of Geography.
  27. J. Stephen Ferris +, 2006. "Just how much bigger is government in Canada?," Carleton Economic Papers 06-04, Carleton University, Department of Economics, revised Jun 2007.
Full references (including those not matched with items on IDEAS)

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

When requesting a correction, please mention this item's handle: RePEc:eee:poleco:v:24:y:2008:i:2:p:294-316. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.

This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.