Short and Long-Term Effects of Economic Conditions on Individual Voting Decisions
- Creators
- Fiorina, Morris P.
Abstract
A review of the Political Business Cycle (PBC) literature provides grounds for cautious optimism: the literature is cumulative and it exhibits steady theoretical advancement. Early contributions focused primarily on the demand side of the system, i.e. do voters react to economic fluctuations in simple, direct, self-interested fashion (e.g. Kramer, 1971)? More recently, the supply side of the system has attracted attention: do governments stimulate their economies in the period prior to elections then dampen those economies after the electoral challenge is past (e.g. Nordhaus, 1975)? And in current research scholars have begun to integrate the two sides of the system as part of what ultimately may become a reasonable general equilibrium model of the PBC (e.g. Fair, 1975; Frey and Schneider, 1978a).
Additional Information
Prepared for the Second International, Workshop on the Politics of Inflation, Unemployment and Growth, January 4-6, 1979, University of Bonn, Bonn, West Germany. The findings from this larger project was published in Retrospective Voting in American National Elections (1981). I wish to acknowledge the important financial support of the National Science Foundation (NSF SOC76-02083) in making this work possible.Attached Files
Submitted - sswp244.pdf
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Additional details
- Eprint ID
- 82464
- Resolver ID
- CaltechAUTHORS:20171018-143543016
- NSF
- SOC76-02083
- Created
-
2017-10-19Created from EPrint's datestamp field
- Updated
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2019-10-03Created from EPrint's last_modified field
- Caltech groups
- Social Science Working Papers
- Series Name
- Social Science Working Paper
- Series Volume or Issue Number
- 244