Partisan Politics, Divided Government, and the Economy / Edition 1

Partisan Politics, Divided Government, and the Economy / Edition 1

by Alberto Alesina, Howard Rosenthal
     
 

This book develops an integrated approach to understanding the American economy and national elections. Economic policy is generally seen as the result of a compromise between the President and Congress. Because Democrats and Republicans usually maintain polarized preferences on policy, middle-of-the-road voters seek to balance the President by reinforcing in Congress… See more details below

Overview

This book develops an integrated approach to understanding the American economy and national elections. Economic policy is generally seen as the result of a compromise between the President and Congress. Because Democrats and Republicans usually maintain polarized preferences on policy, middle-of-the-road voters seek to balance the President by reinforcing in Congress the party not holding the White House. This balancing leads, always, to relatively moderate policies and, frequently, to divided government. The authors first outline the rational partisan business cycle, where Republican administrations begin with recession, and Democratic administrations with expansions, and next the midterm cycle, where the President's party loses votes in the mid-term congressional election. The book argues that both cycles are the result of uncertainty about the outcome of presidential elections. Other topics covered include retrospective voting on the economy, coat-tails, and incumbency advantage. A final chapter shows how the analysis sheds light on the economies and political processes of other industrial democracies.

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Product Details

ISBN-13:
9780521436205
Publisher:
Cambridge University Press
Publication date:
10/28/2003
Series:
Political Economy of Institutions and Decisions Series
Edition description:
New Edition
Pages:
300
Product dimensions:
5.98(w) x 8.98(h) x 0.67(d)

Table of Contents

List of tables, figures, and boxes
Series editors' preface
Acknowledgments
1Introduction1
2Models of policy divergence16
3A theory of institutional balancing43
4The midterm cycle83
5Diversity, persistence, and mobility121
6Incumbency and moderation137
7Partisan business cycles161
8The president, Congress, and the economy188
9Economic growth and national elections in the United States: 1915-1988204
10Partisan economic policy and divided government in parliamentary democracies243
References260
Index272

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