This book explores how the political process in the United States influences the economy and how economic conditions influence electoral results. It explains how the interaction between the President and Congress lead to the formulation of macroeconomic policy and how the American voters achieve moderation by balancing the two institutions. Fluctuations in economic growth are shown to depend on the results of elections and, conversely, electoral results to depend on the state of the economy. The final chapter of the book establishes striking similarities between the American political economy and other industrial democracies.
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"...a challenging and important work...in this key area of interdisciplinary research, Alesina and Rosenthal's multi-faceted formal arguments and empirical tests are likely to set the standard for many years." Keith Krehbiel, Stanford University
"Alesina and Rosenthal bring together two major themes in the current study of American politics--divided government and the political business cycle. In so doing, they develop a theoretically innovative, statistically well-grounded model of the United States political economy. A strong round of applause is in order." Michael S. Lewis-Beck, Professor, the University of Iowa
"Alesina and Rosenthal have made what will surely be an enduring contribution....This book represents a genuine advance in the political business cycle literature....This book is accessible and holds value for both economists and political scientists. It should prove very useful to graduate students, but will also be stimulating to readers who are already familiar with the existing literature on political business cycles. This book would make a nice addition to a graduate seminar on applied political economy; any course which covers political business cycles would be incomplete absent this book as a required text." Jeffrey Milyo, Journal of Politics
"Alesina and Rosenthal bring together two major themes in the current study of American politics--divided government and the political business cycle. In so doing, they develop a theoretically innovative, statistically well-grounded model of the United States political economy. A strong round of applause is in order." Michael S. Lewis-Beck, Professor, the University of Iowa
"Alesina and Rosenthal have made what will surely be an enduring contribution....This book represents a genuine advance in the political business cycle literature....This book is accessible and holds value for both economists and political scientists. It should prove very useful to graduate students, but will also be stimulating to readers who are already familiar with the existing literature on political business cycles. This book would make a nice addition to a graduate seminar on applied political economy; any course which covers political business cycles would be incomplete absent this book as a required text." Jeffrey Milyo, Journal of Politics
Book Description
Exploring how the political process in the United States influences the economy and how economic conditions influence electoral results, this text explains how the interaction between the President and Congress lead to the formulation of macroeconomic policy.
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This review is from: Partisan Politics, Divided Government, and the Economy (Political Economy of Institutions and Decisions) (Paperback)
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Inside This Book
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First Sentence:
According to a widely held view about politics, the two parties are indistinguishable and both located in the middle of the political spectrum. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
midterm cycle, rational retrospective voting, sincere equilibrium, midterm effect, midterm vote, rational partisan theory, rational partisan business cycle, incumbency bias, vote shock, institutional balancing, presidential outcome, moderating behavior, political business cycle model, partisan cycles, pivotal voter, voter equilibrium, heterogeneous parties, partisan model, midterm loss, electoral uncertainty, sincere voting, divided government, bliss points, presidential coattails, homogeneous parties Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, White House, World War, House of Representatives, Signaling Hypothesis, United Kingdom, Variable Coefficient, Republican House, System Restricted Constant, Civil War, Great Depression New!
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
According to a widely held view about politics, the two parties are indistinguishable and both located in the middle of the political spectrum. Read the first page Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
midterm cycle, rational retrospective voting, sincere equilibrium, midterm effect, midterm vote, rational partisan theory, rational partisan business cycle, incumbency bias, vote shock, institutional balancing, presidential outcome, moderating behavior, political business cycle model, partisan cycles, pivotal voter, voter equilibrium, heterogeneous parties, partisan model, midterm loss, electoral uncertainty, sincere voting, divided government, bliss points, presidential coattails, homogeneous parties Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, White House, World War, House of Representatives, Signaling Hypothesis, United Kingdom, Variable Coefficient, Republican House, System Restricted Constant, Civil War, Great Depression New!
Books on Related Topics | Concordance | Text Stats Browse Sample Pages:
Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
Citations (learn more)
This book cites 43
books:
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79
books
cite this book:
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- Politics and Economics in the Eighties (National Bureau of Economic Research Project Report) by Alberto Alesina in Back Matter (1), Back Matter (2), and Back Matter (3)
- Game Theory by Drew Fudenberg in Back Matter
- Ideology and Discontent by Clifford Geertz in Back Matter
- Lectures on Macroeconomics by Olivier J. Blanchard in Back Matter
- Economics and Elections: The Major Western Democracies by Michael S. Lewis-Beck in Back Matter
See all 43 books this book cites
- Issues in New Political Economy (Surveys of Recent Research in Economics) by Stuart Sayer on page 12, and page 233
- The European Union Decides (Political Economy of Institutions and Decisions) by Robert Thomson in Front Matter, and Back Matter
- Campaign Finance Reform and the Future of the Democratic Party by Jerrold E. Schneider in Back Matter (1), and Back Matter (2)
- Campaign Finance Reform and the Future of the Democratic Party by Jerrold E. Schneider in Back Matter (1), and Back Matter (2)
- Rationalizing Parliament: Legislative Institutions and Party Politics in France (Political Economy of Institutions and Decisions) by John D. Huber in Front Matter
See all 79 books citing this book
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