أعرض تسجيلة المادة بشكل مبسط

dc.creator Malley, Jim
dc.creator Philippopoulos, Apostolis
dc.creator Woitek, Ulrich
dc.date 2005
dc.date.accessioned 2013-10-16T07:02:39Z
dc.date.available 2013-10-16T07:02:39Z
dc.date.issued 2013-10-16
dc.identifier http://hdl.handle.net/10419/19057
dc.identifier ppn:503749419
dc.identifier.uri http://koha.mediu.edu.my:8181/xmlui/handle/10419/19057
dc.description 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.
dc.language eng
dc.publisher
dc.relation CESifo working papers 1593
dc.rights http://www.econstor.eu/dspace/Nutzungsbedingungen
dc.subject E6
dc.subject D9
dc.subject H5
dc.subject H1
dc.subject ddc:330
dc.subject political uncertainty
dc.subject business cycles & growth
dc.subject optimal policy
dc.subject hybrid maximum likelihood estimation
dc.subject Wahlverhalten
dc.subject Finanzpolitik
dc.subject Politischer Konjunkturzyklus
dc.subject Schätzung
dc.subject Theorie
dc.subject USA
dc.title Electoral uncertainty, fiscal policy and macroeconomic fluctuations
dc.type doc-type:workingPaper


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أعرض تسجيلة المادة بشكل مبسط