Political Cycles and the Macroeconomy
The relationship between political and economic cycles is one of the most widely studied topics in political economics. Political Cycles and the Macroeconomy 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 vast amount of empirical evidence.
Praise for Political Cycles and the Macroeconomy
"Alesina and Roubini will surely become the standard reference on how the political process influences the e onomies of advanced industrial nations. The authors bring politics back into the political e onomy by de onstrating that e onomic performance does not respond to the partisan preferences of the left and the right."
— Howard Rosenthal, Roger Williams Straus Professor of Social Sciences, Professor of Politics, Princeton University
"A fundamental contribution marks a huge step forward in our understanding of political business cycles. This book is a remarkable achievement: it combines the rigor of economic theory, the originality of a comprehensive empirical analysis, a rich new data set, and a marvelous clarity of exposition. It should becon the shelves of anyone interested in political economics."
— Guido Tabellini, Professor of Economics, Bocconi University