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Author: Alberto Alesina Publisher: MIT Press ISBN: 9780262510943 Category : Business & Economics Languages : en Pages : 322
Book Description
This book examines how electoral laws, the timing of election, 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.
Author: Alberto Alesina Publisher: MIT Press ISBN: 9780262510943 Category : Business & Economics Languages : en Pages : 322
Book Description
This book examines how electoral laws, the timing of election, 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.
Author: Allan Drazen Publisher: Princeton University Press ISBN: 0691188009 Category : Business & Economics Languages : en Pages : 775
Book Description
Originally, economics was called political economy, and those studying it readily accepted that economic decisions are made in a political world. But economics eventually separated itself from politics to pursue rigorous methods of analyzing individual behavior and markets. Recently, an increasing number of economists have turned their attention to the old question of how politics shape economic outcomes. To date, however, this growing literature has lacked a cogent organization and a unified approach. Here, in the first full-length examination of how political forces affect economic policy decisions, Allan Drazen provides a systematic treatment, organizing the increasingly influential "new political economy" as a more established field at the highly productive intersection of economics and political science. Although he provides an extraordinarily helpful guide to the recent explosion of papers on political economy in macroeconomics, Drazen moves far beyond survey, giving definition and structure to the field. He proposes that conflict or heterogeneity of interests should be the field's essential organizing principle, because political questions arise only when people disagree over which economic policies should be enacted or how economic costs and benefits should be distributed. Further, he illustrates how heterogeneity of interests is crucial in every part of political economy. Drazen's approach allows innovative treatment--using rigorous economic models--of public goods and finance, economic growth, the open economy, economic transition, political business cycles, and all of the traditional topics of macroeconomics. This major text will have an enormous impact on students and professionals in political science as well as economics, redefining how decision makers on several continents think about the full range of macroeconomic issues and informing the approaches of the next generation of economists.
Author: Edward R. Tufte Publisher: Princeton University Press ISBN: 9780691021805 Category : Business & Economics Languages : en Pages : 196
Book Description
Speculations about the effects of politics on economic life have a long and vital tradition, but few efforts have been made to determine the precise relationship between them. Edward Tufte, a political scientist who covered the 1976 Presidential election for Newsweek, seeks to do just that. His sharp analyses and astute observations lead to an eye-opening view of the impact of political life on the national economy of America and other capitalist democracies. The analysis demonstrates how politicians, political parties, and voters decide who gets what, when, and how in the economic arena. A nation's politics, it is argued, shape the most important aspects of economic life--inflation, unemployment, income redistribution, the growth of government, and the extent of central economic control. Both statistical data and case studies (based on interviews and Presidential documents) are brought to bear on four topics. They are: 1) the political manipulation of the economy in election years, 2) the new international electoral-economic cycle, 3) the decisive role of political leaders and parties in shaping macroeconomic outcomes, and 4) the response of the electorate to changing economic conditions. Finally, the book clarifies a central question in political economy: How can national economic policy be conducted in both a democratic and a competent fashion?
Author: T. Persson Publisher: Routledge ISBN: 1135645590 Category : Business & Economics Languages : en Pages : 200
Book Description
Uses a game theoretic approach to explore which economic policies are 'credible' and 'politically feasible', questions that had eluded traditional macroeconomic approaches.
Author: Petar Stankov Publisher: Routledge ISBN: 100020071X Category : Business & Economics Languages : en Pages : 94
Book Description
The Political Economy of Populism explores the interplay between identity, the economy and inequality to explain the dynamics of populist votes since the beginning of the 20th century. The book discusses the political and economic implications of populist governance using data on populist incumbencies and linking it to historical data on the macro economy and democracy. Chapters draw from the most recent political science, economics and other social science literature, as well as historical data, to explain the long-term causes and consequences of populism. Populism emerges and gains traction when political entrepreneurs exploit underlying identity conflicts for political gains. As the distributional consequences of both economic distress and economic growth typically favor the elite over the poor and the lower middle class, economic shocks usually sharpen the underlying identity conflicts between the groups. The book provides evidence of significant differences in the ways fiscal and monetary policies are conducted by incumbent populists in Latin America, Europe and the OECD. The work concludes by suggesting avenues through which a 21st century social consensus can be built, so that our society can avoid repeating the mistakes that led to wars and failed economic experiments in the 20th century. The Political Economy of Populism marks a significant contribution to the study of populism and is suited to students and scholars across the social sciences, including economics, political science and sociology.
Author: Alex Cukierman Publisher: MIT Press ISBN: 9780262031943 Category : Business & Economics Languages : en Pages : 430
Book Description
These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. What political and economic factors stimulate growth and make an economy expand? These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. Topics range from economic reform and price flexibility to the economic effects of political coups and include both theoretical analysis and empirical results.During the past decade, economists have seen important new developments linking growth and business cycles to government policy. These contributions provide a clear understanding of these processes and their effect in shaping economic policy. They look at the welfare side of economics and offer strong economic models to explain the connection between social policies and economic growth. For example, John Londregan and Keith Poole address the economic effects of political coups, Torsten Persson and Guido Tabellini explore the question of whether inequality is harmful for growth, and Stephen Parente and Edward Prescott look at the role of technology adoption in stimulating growth.The essays cover a wide range of approaches. Several focus on the interaction between growth and the choice of policy, where policy reacts to economic and distributional considerations through a majority rule process. Others take the policy as given and focus on the empirical estimation of the speed of convergence of rates of growth across states and regions and the importance of externalities and knowledge spillovers for rates of growth. Essays about the business cycle fall into two broad categories. One, arising from the new political economy tradition, examines the effects of elections and price decontrols on the business cycle. The other explores the implications of optimal economic policies in a representative agent framework for the cyclical behavior of the economy.
Author: Gerald T. Fox Publisher: Business Expert Press ISBN: 160649533X Category : Business & Economics Languages : en Pages : 181
Book Description
This book considers the interrelation among macroeconomic politics, macroeconomic policymakers, macroeconomic policies, and macroeconomic perform ance. This interaction is examined using the expectational Phillips curve model, which measures macroeconomic outcomes in terms of inflation and unemployment. The subject of macroeconomic politics mainly focuses on voter behavior, presidential reelection ambition, and political party priorities. These political factors influence the macroeconomic policy actions of the president, Congress, and the central bank; the analysis takes into account both fiscal and monetary policies. The author’s examination of citizen sentiment is based on rational voter theory and the median voter model. He compares the effects of macroeconomic farsightedness versus shortsightedness in voters and contrasts the conservative versus liberal perspectives on macroeconomic policy and performance. The empirical component of the analysis examines the electoral and partisan political business cycle effects upon the U.S. economy, and evidence of idiosyncratic effects during the time frame of 1961–2014 is found. Finally, the author discusses macroeconomic influence on various measures of voter sentiment, such as presidential job approval, and presidential and congressional election outcomes.
Author: Tobias Fritsch Publisher: GRIN Verlag ISBN: 3640535782 Category : Languages : en Pages : 61
Book Description
Research Paper (undergraduate) from the year 2006 in the subject Business economics - Economic Policy, grade: 2,0, Free University of Berlin, language: English, abstract: The current political decisions do not only affect the economy, additionally also future capital stocks and (infra-) structures are significantly influenced. Generally one should keep in mind that natural resources as well as price inflation for produced goods highly depend on the decision whether to consume now or save them for later. One of the most important influence factors for the economical life is the government policy. The trade-off between the focus on present and future welfare (between consuming and saving) is mainly based on political decisions. Thus it is important to address the role of the government and understand how elections and voters might influence the decision of the political parties during their incumbency. This paper describes the motivation of the politicians to influence the voters before the election takes place in order to win. Generally speaking, they use economical instruments (like the Phillips curve, aggregated demand, budgets, etc.) to increase their chance for the next election. However the usage of these instruments produces a downturn shortly after the election; the whole process is called a political business cycle.
Author: Nikolaos Chatzarakis Publisher: Taylor & Francis ISBN: 1040031072 Category : Business & Economics Languages : en Pages : 337
Book Description
Contemporary capitalism is characterized by periods of vigorous economic growth and periods of slow or even negative growth. This book draws on the classical political economy approach to consider both economic cycles and economic growth and draw conclusions about the inherent instability of the modern economy. The book shows that the work of the old classical economists (Smith and Ricardo) and Marx is theoretically sound and capable of providing answers to both growth and cycles. It also demonstrates the potential and natural integration of growth and cycles in a single model. The microeconomic foundation of this model is the labor theory of value, which continues with the General Law of Capital Accumulation, the Law of the Falling Rate of Profit, and the movement of the Industrial Reserve Army of Labour. Finally, a dynamic model of growth-cum-cycles is constructed consisting of the evolution and interaction of five key variables, namely, the rate of profit, the propensity to invest in fixed capital, technological change, the reserve army of labour, and the rate of capital devaluation. The analysis demonstrates that economic growth and cycles are not disconnected from each other, as they have been treated in the literature, but rather interdependent aspects of the same evolutionary process of a capitalist economy. This book will interest readers in the history of economic thought, economic growth and development, macroeconomics, and political economy.
Author: Alberto Alesina
Author: Alberto Alesina
Author: Thomas D. Willett
Author: Allan Drazen
Author: Edward R. Tufte
Author: T. Persson
Author: Petar Stankov
Author: Alex Cukierman
Author: Gerald T. Fox
Author: Tobias Fritsch
Author: Nikolaos Chatzarakis