Political Business Cycles in Developed Countries - Intranational Political Business Cycle

Political Business Cycles in Developed Countries - Intranational Political Business Cycle Chun Ping Chang

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Author: Chun Ping Chang
Published Date: 30 Dec 2008
Publisher: VDM Verlag
Original Languages: English
Book Format: Paperback::124 pages
ISBN10: 3639114957
ISBN13: 9783639114959
File size: 17 Mb
Filename: political-business-cycles-in-developed-countries-intranational-political-business-cycle.pdf
Dimension: 152x 229x 7mm::177g
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[PDF] Political Business Cycles in Developed Countries - Intranational Political Business Cycle book download online. Political Credit Cycles – Myth or Reality?* Andreas Kern1 Puspa D. Amri2 November, 9th 2014 Abstract Just like a monetary or fiscal policy-induced political business cycle, policymakers seeking popular support may be inclined to support or even manufacture rapid credit expansion prior to elections. The political business cycle was They test the political budget cycles across 123 countries over the period of 1975 to 1995. They found clear evidence of political budget cycles, and more importantly, they show that, political budget cycles are more significant in developing countries than in developed countries. Brenden and political business cycles and political regulation that form the basis for our theory of electoral cycles in regulated industries. In the third section we introduce our model of dynamic political regulation and derive the results that characterize the political price cycle in regulated industries. Few concepts in political economy are more widely known than the political business cycle (PBC). Nor have many given rise to such heated debate among scholars. The extent of debate reflects the Opinion | A close examination of Indian financial and business cycles 4 min read. Updated: 09 Jul 2019, 03:42 PM IST Niranjan Rajadhyaksha. India has a financial cycle that stretches over 12 years Political Business Cycles in Turkey: A Fiscal Approach Yrd. Do�. Dr. Mesut KARAKAŞ Gebze Y�ksek Teknoloji Enstit�s�, İşletme Fak�ltesi, İktisat B�l�m�, KOCAELİ ABSTRACT Political business cycle studies have arisen as alternatives to pure business cycle studies. Developed countries. The Politics of the Political Business Cycle assume that governments face similar incentives to manipulate the economy at each election. Investigators employing these approaches thus expect to find policy cycles which are both uniform and systematic. In fact, however, the incentives for governments to engineer economic cycles can vary greatly from “political business cycles”.3 The second set of models attempt to reconcile rational 2Here, the focus is on “opportunistic” political models where policymakers maximize their probability of re-election. For the US and OECD countries, there are also “partisan” models where diﬀerent political parties represent CiteSeerX - Document Details (Isaac Councill, Lee Giles, Pradeep Teregowda): This study examines the proposition that political business cycle theory is relevant to private foreign lenders to developing countries. We find that: credit rating agencies downgrade developing country ratings more often in election years, and do so approximately one rating level; bond spreads are higher in the 60 While special interest politics is often associated with microeconomic policy, and its macroeconomic impact is thought to be negligible, the political busi-ness cycle models explain cycles on aggregate macroeconomic variables. In this paper we try to bridge the gap between special interest politics and political business cycle literatures. Political business cycles and inflation stabilization Vı�tor Castroa, Francisco Jose� Veigab,* aUniversidade de Coimbra, Coimbra, Portugal bNIPE-Escola de Economia e Gesta˜o, Universidade do Minho, Gab. 2.04, P-4710-057 Braga, Portugal Received 22 April 2003; accepted 28 July 2003 Abstract This article analyzes the effects of the timing of elections on the timing and character of adopted shi ed from the political business cycle to the political budget cycle. One of the ﬁ rst economists who mentioned this problematic in his article was Kenneth Rogoﬀ (1990). He pointed out that the results of the political business cycle research have been mixed and therefore he has suggested focusing on research of the political budget cycle. business cycles in developed countries with those in emerging economies, and these (see Hughes Hallett and Richter, 2008, and Kose et al., 2008) often concentrate on description of stylized facts of business cycles in various regions. This paper extends the discussion nomic variables induced elections now focuses on budget cycles, and it is useful to study such cycles independent of political cycles in economic ac-tivity (the political business cycle). The shift in focus is due in part to the lack of strong empirical evidence for the existence of a political business cycle in many countries. International Real Business Cycles David K. Backus New York University Patrick J. Kehoe University of Minnesota and Federal Reserve Bank of Minneapolis Finn E. Kydland Carnegie Mellon University We ask whether a two-country real business cycle model can account simultaneously for domestic and international aspects of business cycles. effects on international business cycles are ambiguous. On the one hand, Frankel and Rose (1998) find a robust positive relationship between trade intensity and correlation of business cycles between OECD countries. This reflects also high shares of intra-industry trade between these countries. Political Business Cycle theorists should focus on money and markets. This leads me to my conclusion: I believe that a lot of insight about Political Business Cycles (and business cycles in general) can be learned starting out with an Alesina style model, but we need to … research on political budget cycles in EU and to present the results. 1 Political business cycle theories The idea that politicians and their decisions can create political cycles in economy can be founded in works of Schumpeter, Kalecki, Downs (Breuss, 2008). Though, the main empirical The Political Business Cycle12 WILLIAM D. NORDHAUS Yale University There are many ways in which today's political choices affect future well-being. Future capital stocks, structures and machinery and roads, depend on the extent to which present generations invest instead of consume. Stocks of natural resources depend on past con-servation efforts. Sovereign credit and political survival in democracies - Volume 20 Issue 3 - Matthew DiGiuseppe, Patrick E. Shea Skip to main content We use cookies to distinguish you from other users and to provide you with a better experience on our websites. is responsible for a lower share of business cycle volatility in emerging economies than in developed ones. JEL classi cation: F41, G15, E62, H50. Keywords: scal procyclicality, country risk premium, international business cycles, general gov-ernment consumption expenditure I am grateful to my advisors Peter Ireland, developed countries. Authors’ Note: Prior versions of this paper were presented at the American Political Science Association Conference in 2012, the 2014 International Studies Association conference, and to the Department of Political Science, Cornell University in 2014.In addition to participants at those events, the authors would like to give special thanks to Puspa Amri, Benjamin J. Cohen, Jonathan Kirshner Educational Business Cycles The Political Economy of Teacher Hiring across German States, 1992-2004 Markus Tepe 1 and Pieter Vanhuysse 2 Abstract 3 Strong institutional constraints and better-informed voters may lead re-election seeking incumbents to shift the use of cycle … Abstract: The objective of this paper is to analyze the dynamics of business cycle features and investigate the main source of macroeconomic fluctuations in Vietnam, and then make comparison to Indonesia and the Philippines. In the first task, the business cycle features are evaluated properties of data, including volatility, persistence and co-movement after taking Hodrick-Prescott (HP Chang, Koyin and Kim, Yoonbai and Tomljanovich, Marc and Ying, Frank, Do Political Parties Foster Business Cycles? An Examination of Developed Economies (February 19, 2016). Electoral Rules, Forms of Government, and Political Budget Cycles in Transition Countries 189 hoc government purchases, wages and local public goods (Milesi-Ferretti, Perotti and Rostagno 2002). Broad-based transfers and assistance programs, on the other hand, benefit larger groups of population and are thus preferred in proportional systems. Journal of comparative economics:the journal of the Association for Comparative Economic Studies. - Amsterdam:Elsevier, ISSN 0147-5967, ZDB-ID 715350-8. Globalization and Business Cycle Transmission Michael Artis*† CEPR and University of Manchester, UK and Toshihiro Okubo** Kobe University, Japan October 2008 Abstract The paper uses long-run GDP data for developed countries drawn from Maddison (2003) to generate deviation cycles for the period from 1870 to 2001. The cyclical

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