What Does the Public Know about Economic Policy, and How Does It Know It?
A long tradition in economic theory models economic policy decisions as solutions to optimization problems solved by rational and well-informed agents: A single policymaker minimizes a loss function subject to some constraints. Another body of literature models policy decisions as if they were made by well-informed voters in elections of some sort.
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- Persson, Torsten & Tabellini, Guido, 1997.
"Political Economics and Macroeconomic Policy,"
CEPR Discussion Papers
1759, C.E.P.R. Discussion Papers.
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- Torsten Persson & Guido Tabellini, . "Political Economics and Macroeconomic Policy," Working Papers 121, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Persson, T. & Tabellini, G., 1997. "Political Economics and Macroeconomic Policy," Papers 630, Stockholm - International Economic Studies.
- Torsten Persson & Guido Tabellini, 1997. "Political Economics and Macroeconomic Policy," NBER Working Papers 6329, National Bureau of Economic Research, Inc.
- Hansen, Karsten T & Heckman, James J & Mullen, Kathleen J, 2003.
"The effect of schooling and ability on achievement test scores,"
Working Paper Series
2003:13, IFAU - Institute for Evaluation of Labour Market and Education Policy.
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- David Romer, 2003.
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Royal Economic Society, vol. 113(484), pages 1-20, January.
- Bryan Caplan, 2002. "Sociotropes, Systematic Bias, and Political Failure: Reflections on the Survey of Americans and Economists on the Economy," Social Science Quarterly, Southwestern Social Science Association, vol. 83(2), pages 416-435.
- Anthony Downs, 1957. "An Economic Theory of Political Action in a Democracy," Journal of Political Economy, University of Chicago Press, vol. 65, pages 135.
- Blinder, Alan S & Morgan, John, 2005. "Are Two Heads Better than One? Monetary Policy by Committee," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(5), pages 789-811, October.
- Robert J. Blendon, 1997. "Bridging the Gap between the Public's and Economists' Views of the Economy," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 105-118, Summer.
- Sendhil Mullainathan & Andrei Shleifer, 2002.
NBER Working Papers
9295, National Bureau of Economic Research, Inc.
- Sendhil Mullainathan & Andrei Shleifer, 2002. "Media Bias," Harvard Institute of Economic Research Working Papers 1981, Harvard - Institute of Economic Research.
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- Dan Fuller & Doris Geide-stevenson, 2003. "Consensus Among Economists: Revisited," The Journal of Economic Education, Taylor & Francis Journals, vol. 34(4), pages 369-387, December.
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