Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/159337 
Year of Publication: 
2004
Series/Report no.: 
Quaderni - Working Paper DSE No. 496
Publisher: 
Alma Mater Studiorum - Università di Bologna, Dipartimento di Scienze Economiche (DSE), Bologna
Abstract: 
In this paper we consider the effects of «multiplicative» uncertainty about the structure of the economy in the standard partisan model. An increase in the uncertainty decreases of the inflation rate pursued by the liberal policymaker, but increases the inflation rate pursued by the conservative policymaker. For certain configurations of the parameters, an increase in the uncertainty reduces the expected loss of both parties.
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Working Paper

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