Political Parties and the Business Cycle in the United States, 1948-1984
This paper tests the existence and the extent of a politically induced busi ness cycle in the United States in the post-World War II period. The cycle described in this paper is quite different from the traditional "political business cycle" of William Nordhaus. It is based upon t he assumption that Republican and Democratic administrations have fol lowed systematically different monetary policies. The empirical impli cations of the theory are supported by the data. Copyright 1988 by Ohio State University Press.
Volume (Year): 20 (1988)
Issue (Month): 1 (February)
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