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dc.contributor.authorAlesina, Alberto
dc.contributor.authorRoubini, Nouriel
dc.date.accessioned2010-11-09T20:17:56Z
dc.date.issued1992
dc.identifier.citationAlesina, Alberto, and Nouriel Roubini. 1992. Political cycles in OECD economies. Review of Economic Studies 59(4): 663-688.en_US
dc.identifier.issn0034-6527en_US
dc.identifier.urihttp://nrs.harvard.edu/urn-3:HUL.InstRepos:4553025
dc.description.abstractThis paper studies whether the dynamic behaviour of GNP growth, unemployment and inflation is systematically affected by the timing of elections and of changes of governments. The sample includes the last three decades in 18 OECD economies. We explicitly test the implication of several models of political cycles, both of the "opportunistic" and of the "partisan" type. Also, we confront the implication of recent "rational" models with more traditional approaches. Our results can be summarized as follows: (a) The "political business cycles" hypothesis, as formulated in Nordhaus (1975) on output and unemployment is generally rejected by the data; (b) inflation tends to increase immediately after elections, perhaps as a result of pre-electoral expansionary monetary and fiscal policies; (c) we find evidence of temporary partisan differences in output and unemployment and of long-run partisan differences in the inflation rate as implied by the "rational partisan theory" by Alesina (1987); (d) we find virtually no evidence of permanent partisan differences in output growth and unemployment.en_US
dc.description.sponsorshipEconomicsen_US
dc.language.isoen_USen_US
dc.publisherBlackwell Publishingen_US
dc.relation.isversionofhttp://dx.doi.org/10.2307/2297992en_US
dash.licenseLAA
dc.titlePolitical Cycles in OECD Economiesen_US
dc.typeJournal Articleen_US
dc.description.versionAuthor's Originalen_US
dc.relation.journalReview of Economic Studiesen_US
dash.depositing.authorAlesina, Alberto
dc.date.available2010-11-09T20:17:56Z
dc.identifier.doi10.2307/2297992*
dash.contributor.affiliatedAlesina, Alberto


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