Structural change in the relationship between presidential popularity and inflation and unemployment: the Nixon and Ford presidencies
A quadratic presidential popularity function for the Nixon and Ford presidencies is estimated. Using monthly data it is found that there is a structural change in the relationship between presidential popularity and inflation and unemployment between the two presidencies. This result strengthens the authors' earlier finding that one must be wary of using a single social preference function between inflation and unemployment that is time invariant.
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Volume (Year): 2 (1995)
Issue (Month): 9 ()
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