Political Cycles and the Macroeconomy

Political Cycles and the Macroeconomy This book is an important achievement in Political Economy by two of the most creative researchers in the field The ideas here developed over many years by Alesina and Roubini have already stimulat

  • Title: Political Cycles and the Macroeconomy
  • Author: Alberto Alesina Nouriel Roubini Gerald D. Cohen
  • ISBN: 9780262510943
  • Page: 299
  • Format: Paperback
  • This book is an important achievement in Political Economy, by two of the most creative researchers in the field The ideas here, developed over many years by Alesina and Roubini, have already stimulated considerable new research and important empirical findings This book deserves a wide readership Jeffrey D Sachs, Director, Harvard Institute for International Deve This book is an important achievement in Political Economy, by two of the most creative researchers in the field The ideas here, developed over many years by Alesina and Roubini, have already stimulated considerable new research and important empirical findings This book deserves a wide readership Jeffrey D Sachs, Director, Harvard Institute for International Development Galen L Stone Professor of International Trade, Department of Economics, Harvard University The relationship between political and economic cycles is one of the most widely studied topics in political economics This book examines how electoral laws, the timing of elections, the ideological orientation of governments, and the nature of competition between political parties influence unemployment, economic growth, inflation, and monetary and fiscal policy The book presents both a thorough overview of the theoretical literature and a vast amount of empirical evidence A common belief is that voters reward incumbents who artificially create favorable conditions before an election, even though the economy may take a turn for the worse immediately thereafter The authors argue that the dynamics of political cycles are far complex In their review of the main theoretical approaches to the issues, they demonstrate the multifaceted relationships between macroeconomic and political policies They also present a broad range of empirical data, from the United States as well as OECD countries One of their most striking findings is that the United States is not exceptional the relationships between political and economic cycles are remarkably similar in other democracies,particularly those with two party systems.

    One thought on “Political Cycles and the Macroeconomy”

    Leave a Reply

    Your email address will not be published. Required fields are marked *