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EconStor >
ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/19057
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Malley, Jim | | en_US |
| dc.contributor.author | | Philippopoulos, Apostolis | | en_US |
| dc.contributor.author | | Woitek, Ulrich | | en_US |
| dc.date.accessioned | | 2009-01-28T15:54:45Z | | - |
| dc.date.available | | 2009-01-28T15:54:45Z | | - |
| dc.date.issued | | 2005 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/19057 | | - |
| dc.description.abstract | | In this paper we study the link between elections, fiscal policy and aggregate fluctuations. The set-up is a stylized dynamic stochastic general equilibrium model incorporating both technology and political re-election shocks. The later are incorporated via a two-party model with elections. The main theoretical prediction is that forward-looking incumbents, with uncertain prospects of re-election, find it optimal to follow relatively shortsighted fiscal policies, and that this hurts capital accumulation. Our econometric estimation, using U.S. data, finds a statistically significant link between electoral uncertainty and policy instruments and in turn macroeconomic outcomes. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | | | en_US |
| dc.relation.ispartofseries | | CESifo working papers 1593 | | en_US |
| dc.subject.jel | | E6 | | en_US |
| dc.subject.jel | | D9 | | en_US |
| dc.subject.jel | | H5 | | en_US |
| dc.subject.jel | | H1 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | political uncertainty | | en_US |
| dc.subject.keyword | | business cycles & growth | | en_US |
| dc.subject.keyword | | optimal policy | | en_US |
| dc.subject.keyword | | hybrid maximum likelihood estimation | | en_US |
| dc.subject.stw | | Wahlverhalten | | en_US |
| dc.subject.stw | | Finanzpolitik | | en_US |
| dc.subject.stw | | Politischer Konjunkturzyklus | | en_US |
| dc.subject.stw | | Schätzung | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.subject.stw | | USA | | en_US |
| dc.title | | Electoral uncertainty, fiscal policy and macroeconomic fluctuations | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 503749419 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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