Elite economic forecasts, economic news, mass economic expectations, and voting intentions in great britain
In: European journal of political research: official journal of the European Consortium for Political Research, Band 38, Heft 1, S. 135-170
ISSN: 1475-6765
Abstract In order to test the notion that the electorate relies, derivatively, on professional economic forecasts, we consider the entire chain between elite economic expectations, economic news, mass economic expectations, and voter preferences. We find that while elite expectations are based on the objective economy, they are politically biased in the neighborhood of elections. Reports of economic news, while based on the objective economy and on elite expectations, have their own political rhythm in the form of election–related cycles. The pattern in news coverage, in turn, is mirrored by election–related cycles in personal and general expectations formed by the mass public. While the relevance of each of the linkages from elite expectations to news coverage to mass expectations is thus confirmed, our findings challenge the view that the link between mass expectations and voting intentions can be attributed mainly to the dissemination of elite forecasts to the general public. We conclude by discussing the implications of our findings for an understanding of the ability and functioning of mass electorates.