Political Control Of The Macroeconomy

Author : Paul Whiteley
Publisher : London ; Beverly Hills : Sage Publications
Page : 232 pages
File Size : 55,9 Mb
Release : 1986
Category : Business & Economics
ISBN : UOM:39015013432045

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Political Control of the Macroeconomy by Paul Whiteley Pdf

Paul Whiteley integrates two fields of study which have traditionally remained separate - public policy analysis and macroeconomic theory. He applies theoretical models from macroeconomics to key issues in public policy analysis. He measures the effects of technological change, the nature of economic growth, and the extent to which government can stimulate productivity and manipulate the economy for electoral purposes. Two dimensions, essential in understanding the political determinants of economic policy, are highlighted: the short- and long-term effects of policies; and the relationship between policy instruments, such as public expenditure, and policy targets, such as full employment. Using cross-sectional and time-series data, Paul Whiteley tests and develops models for assessing policies and their outcomes. His conclusions about government mechanisms for exerting influence on the economy have important implications for public policy and macroeconomic analyses.

Author : Edward R. Tufte
Publisher : Princeton University Press
Page : 188 pages
File Size : 51,6 Mb
Release : 1978
Category : Business & Economics
ISBN : 9780691021805

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Political Control of the Economy by Edward R. Tufte Pdf

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 : Douglas A. HIBBS,Douglas A Hibbs
Publisher : Harvard University Press
Page : 422 pages
File Size : 53,5 Mb
Release : 2009-06-30
Category : Political Science
ISBN : 9780674038639

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The American Political Economy by Douglas A. HIBBS,Douglas A Hibbs Pdf

Here is the most comprehensive and authoritative work to date on relationships between the economy and politics in the years from Eisenhower through Reagan. Extending and deepening his earlier work, which had major impact in both political science and economics, Hibbs traces the patterns in and sources of postwar growth, unemployment, and inflation. He identifies which groups win and lose from inflations and recessions. He also shows how voters' perceptions and reactions to economic events affect the electoral fortunes of political parties and presidents. Hibbs's analyses demonstrate that political officials in a democratic society ignore the economic interests and demands of their constituents at their peril, because episodes of prosperity and austerity frequently have critical influence on voters' behavior at the polls. The consequences of Eisenhower's last recession, of Ford's unwillingness to stimulate the economy, of Carter's stalled recovery were electorally fatal, whereas Johnson's, Nixon's, and Reagan's successes in presiding over rising employment and real incomes helped win elections. The book develops a major theory of macroeconomic policy action that explains why priority is given to growth, unemployment, inflation, and income distribution shifts with changes in partisan control of the White House. The analysis shows how such policy priorities conform to the underlying economic interests and preferences of the governing party's core political supporters. Throughout the study Hibbs is careful to take account of domestic institutional arrangements and international economic events that constrain domestic policy effectiveness and influence domestic economic outcomes. Hibbs's interdisciplinary approach yields more rigorous and more persuasive characterizations of the American political economy than either purely economic, apolitical analyses or purely partisan, politicized accounts. His book provides a useful benchmark for the advocacy of new policies for the 1990s--a handy volume for politicians and their staffs, as well as for students and teachers of politics and economics.

Author : Leon Lindberg,Charles S. Maier
Publisher : Brookings Institution Press
Page : 646 pages
File Size : 55,7 Mb
Release : 1985-06-01
Category : Political Science
ISBN : 0815723679

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The Politics of Inflation and Economic Stagnation by Leon Lindberg,Charles S. Maier Pdf

The inflation of the 1970s represented the greatest peacetime disruption of the Western economies since the Depression. Even as inflation receded, the recession in its wake brought more joblessness than at any time since the 1930s. The governments of industrialized nations found that the economic policies they had developed since World War II no longer assured price stability or high employment. What are the lessons of over a decade of economic difficulty? In this conference volume, which focuses on aspects of the crisis that economists often presuppose to be beyond control, the authors analyze the political and social underpinning of inflation and recession. Part 1 places the economic problems of the 1970s in the historical context of postwar development and then compares economic and political science analyses of inflation. Part 2 examines how rivalries between social groups affect inflationary processes. One chapter draws on the history of Latin American inflation to suggest the conflicts in play. Two others weigh the role of labor and industry in the formation of economic policy. And another shows how rivalry between countries, like rivalry between classes at home, permitted inflation to rise. The chapters in part 3 contest the claim that big government or big labor causes inflation. Two studies emphasize that a high degree of public expenditure does not itself lead to inflation. Further contributions explore the role of central banks and subject such concepts as the political business cycle to critical analysis. Part 4 comprises case studies about macroeconomic policymaking in four nations: Italy, Germany, Japan, and Sweden. The studies reveal what institutional attributes rendered those countries resistant to inflation or vulnerable to economic setback. In the last part, the editors pull together the findings and lay out the contemporary political feasibility of alternative approaches to macroeconomic management.

Author : Rafael Yanushevsky,Camilla Yanushevsky
Publisher : Academic Press
Page : 230 pages
File Size : 54,5 Mb
Release : 2018-06-29
Category : Business & Economics
ISBN : 9780128156339

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Applied Macroeconomics for Public Policy by Rafael Yanushevsky,Camilla Yanushevsky Pdf

Applied Macroeconomics for Public Policy applies system and control theory approaches to macroeconomic problems. The book shows how to build simple and efficient macroeconomic models for policy analysis. By using these models, instead of complex multi-criteria models with uncertain parameters, readers will gain new certainty in macroeconomic decision-making. As high debt to GDP ratios cause problems in societies, this book provides insights on improving economies during and after economic downturns. Provides a detailed analysis of existing macroeconomic models Addresses the dynamics of debt to GDP ratio and the effects of fiscal and monetary policy on this ratio Shows how to use models to evaluate the dynamics of the debt to GDP ratio in cases of government spending and tax cuts and to decide whether such economic measures are efficient Uses optimal theory to obtain optimal yearly debt levels to reach the established goals (decrease debt or balance budget) Provides many examples and software exercises to promote learning by doing

Author : Gunther G. Schulze
Publisher : Cambridge University Press
Page : 0 pages
File Size : 45,7 Mb
Release : 2010-06-10
Category : Business & Economics
ISBN : 0521142857

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The Political Economy of Capital Controls by Gunther G. Schulze Pdf

Although globalization is seen by many as the key economic trend of recent times, restrictions on international capital movements remain the norm in international finance. In this, the first comprehensive study of capital controls, Gunther Schulze uses a public choice model to explain their role. Presenting original research, as well as comprehensive surveys of the existing literature (including monetary economics, international economics, public economics and public choice) this book will be vital reading for policy professionals as well as researchers and upper level students in a wide range of disciplines.

Author : J. Moses
Publisher : Palgrave Macmillan
Page : 259 pages
File Size : 45,8 Mb
Release : 2000-05-05
Category : Political Science
ISBN : 0333775511

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Open States in the Global Economy by J. Moses Pdf

In response to the largely closed-economy assumptions of most cross-national work on economic policy-making, Open States in the Global Economy offers an outside-in framework for analyzing the way in which national economic sovereignty is affected by globalization. This framework is then applied to a detailed case study of Norway's economic policy in the postwar period. The 'Open State' framework offers a new way to interpret how external changes affect domestic policy-makers and their preferences.

Author : Alberto Alesina,Nouriel Roubini,Gerald D. Cohen
Publisher : MIT Press
Page : 322 pages
File Size : 46,6 Mb
Release : 1997
Category : Business & Economics
ISBN : 0262510944

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Political Cycles and the Macroeconomy by Alberto Alesina,Nouriel Roubini,Gerald D. Cohen Pdf

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,Nouriel Roubini,Gerald D. Cohen
Publisher : MIT Press (MA)
Page : 302 pages
File Size : 41,7 Mb
Release : 1997
Category : Business & Economics
ISBN : 0262011611

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Political Cycles and the Macroeconomy by Alberto Alesina,Nouriel Roubini,Gerald D. Cohen Pdf

This work 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 considerable amount of empirical evidence.

Author : Christopher P. Brown
Publisher : Praeger Publishers
Page : 394 pages
File Size : 40,8 Mb
Release : 1980-05-01
Category : Commercial treaties
ISBN : 027590458X

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The Political and Social Economy of Commodity Control by Christopher P. Brown Pdf

Author : Rudiger Dornbusch
Publisher : Unknown
Page : 76 pages
File Size : 40,7 Mb
Release : 1989
Category : Chile
ISBN : IND:30000087215509

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The Macroeconomics of Populism in Latin America by Rudiger Dornbusch Pdf

Author : Lawrence J. Gitman,Carl Mcdaniel,Amit Shah
Publisher : Unknown
Page : 0 pages
File Size : 43,6 Mb
Release : 2023-05-19
Category : Electronic
ISBN : 1998109313

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Introduction to Business by Lawrence J. Gitman,Carl Mcdaniel,Amit Shah Pdf

Author : Mr.Ari Aisen,Mr.Francisco José Veiga
Publisher : International Monetary Fund
Page : 30 pages
File Size : 41,8 Mb
Release : 2011-01-01
Category : Business & Economics
ISBN : 9781455211906

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How Does Political Instability Affect Economic Growth? by Mr.Ari Aisen,Mr.Francisco José Veiga Pdf

The purpose of this paper is to empirically determine the effects of political instability on economic growth. Using the system-GMM estimator for linear dynamic panel data models on a sample covering up to 169 countries, and 5-year periods from 1960 to 2004, we find that higher degrees of political instability are associated with lower growth rates of GDP per capita. Regarding the channels of transmission, we find that political instability adversely affects growth by lowering the rates of productivity growth and, to a smaller degree, physical and human capital accumulation. Finally, economic freedom and ethnic homogeneity are beneficial to growth, while democracy may have a small negative effect.

Author : Allan Drazen
Publisher : Princeton University Press
Page : 775 pages
File Size : 52,6 Mb
Release : 2018-06-05
Category : Business & Economics
ISBN : 9780691188003

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Political Economy in Macroeconomics by Allan Drazen Pdf

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 : Mr. Abdul Abiad,Davide Furceri,Petia Topalova
Publisher : International Monetary Fund
Page : 26 pages
File Size : 51,8 Mb
Release : 2015-05-04
Category : Business & Economics
ISBN : 9781484361559

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The Macroeconomic Effects of Public Investment by Mr. Abdul Abiad,Davide Furceri,Petia Topalova Pdf

This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.