PRESIDENTIAL POLITICS, BUDGET DEFICITS, AND MONETARY POLICY IN THE UNITED STATES; 1960-1976

In: Public choice, Band 40, S. 53-69

Abstract

THERE HAS BEEN INCREASED INTEREST RECENTLY IN THE POLITICAL ECONOMY OF MACROECONOMIC POLICIES. IN CONTRAST TO THE TRADITIONAL VIEW OF GOVERNMENT POLICIES AS ATTEMPTS TO STABILIZE THE MACROECONOMY, THERE HAS BEEN CONSIDERABLE ATTENTION PAID TO THE POSSIBLE POLITICAL INCENTIVES FOR GOVERNMENTS TO INCREASE THEIR CHANCES FOR REELECTION BY EXPLOITING ELEMENTS OF MYOPIA IN THE GENERAL PUBLIC THROUGH THE GENERATION OF POLITICAL BUSINESS CYCLES.1