TY - JOUR
T1 - Economics and politics in the United States
T2 - A state-level investigation
AU - Chang, Chun Ping
AU - Kim, Yoonbai
AU - Ying, Yung hsiang
N1 - Funding Information:
This paper is based on a chapter of Chun-Ping Chang’s PhD dissertation. Chun-Ping Chang is especially indebted to Professor Yoonbai Kim and Yung-hsiang Ying for their encouragement and advice. We would like to thank the editor, Professor Michael Connolly and anonymous reviewers for comments on the paper. The first author is also grateful to the National Science Council of Taiwan for financial support through grant NSC 97-2410-H-158-003. All remaining errors are our own.
PY - 2009
Y1 - 2009
N2 - We examine state income and government spending data to investigate the role of political parties and elections in state business cycles of the United States, and find strong support for the partisan political business cycles, both traditional and rational versions. The growth rate of per capita real income and government spending tend to be higher (lower) with a Democratic (Republican) governor as well as a Democratic (Republican) president. In case of economic growth, we find some evidence for opportunistic cycles induced by national level politics; meanwhile, both national and state governments seem to generate expansionary policy in election years.
AB - We examine state income and government spending data to investigate the role of political parties and elections in state business cycles of the United States, and find strong support for the partisan political business cycles, both traditional and rational versions. The growth rate of per capita real income and government spending tend to be higher (lower) with a Democratic (Republican) governor as well as a Democratic (Republican) president. In case of economic growth, we find some evidence for opportunistic cycles induced by national level politics; meanwhile, both national and state governments seem to generate expansionary policy in election years.
KW - Political business cycle
KW - State level
UR - https://www.scopus.com/pages/publications/72349098200
UR - https://www.scopus.com/pages/publications/72349098200#tab=citedBy
U2 - 10.1080/17487870903314633
DO - 10.1080/17487870903314633
M3 - Article
AN - SCOPUS:72349098200
SN - 1748-7870
VL - 12
SP - 343
EP - 354
JO - Journal of Economic Policy Reform
JF - Journal of Economic Policy Reform
IS - 4
ER -
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