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Comments on ‘Alternative Models of Political Business Cycles’ by W.D. Nordhaus
(Brookings Institution Press, 1989)
Political Parties and the Business Cycle in the United States, 1948-1984
(Blackwell Publishing, 1988)
This paper tests the existence and the extent of a politically induced business cycle in the U.S. in the post—World War II period. The cycle described in this paper is different from the traditional "political business ...
Macroeconomic Policy in a Two-party System as a Repeated Game
(MIT Press, 1987)
This paper considers the interaction of two parties with different objectives concerning inflation and unemployment and rational and forward-looking wage-setters. If discretionary policies are followed, an economic cycle ...
Partisan Cycles in Congressional Elections and the Macroeconomy
(Cambridge University Press, 1989)
In the postwar United States the president's party has always done worse in the midterm congressional elections than in the previous congressional election. Republican administrations exhibit below-average, and Democratic ...
Why Are Stabilizations Delayed?
(American Economic Association, 1988)
When a stabilization has significant distributional implications (e.g., tax increases to eliminate a large budget deficit), socioeconomic groups may attempt to shift the burden of stabilization onto other groups. The process ...
An Overlapping Generations Model of Electoral Competition
(Elsevier, 1988)
External Debt, Capital Flight and Political Risk
(Elsevier, 1989)
This paper explains the simultaneous occurrence of large external debts, private capital outflows and low domestic capital formation. We consider a general equilibrium model in which two government types with conflicting ...