Searching for political business cycles in Germany

被引：33
作者：
Berger, H
Woitek, U
机构：
[1] Center for Economic Studies, University of Munich, D-80539 Munich
来源：
PUBLIC CHOICE | 1997年 / 91卷 / 02期
关键词：
political business cycles; macroeconomic policy; Germany; Bundesbank;
D O I：
10.1023/A:1004970926840
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
One result of the revitalised literature on political business cycles is that there are signs in German data that elections and ideology have an impact. However, using monthly data for the period 1950-1989, and standard methods of time series analysis, we reject both the Nordhaus hypothesis of opportunistic cycles and the partisan approaches by Hibbs and Alesina. We show that some results are sensitive to the assumption of stationarity. There are signs of policy cycles in M1. It is hard, though, to bring this in line with the Rogoff hypothesis of rational opportunistic cycles because of the German institutional setting.
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收藏
页码：179 / 197
页数：19
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