1997
DOI: 10.1016/s0176-2680(97)00019-0
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A model of partisan central banks and opportunistic political business cycles

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Cited by 40 publications
(18 citation statements)
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“…For reviews, see Alt & Chrystal (1983) and Willett (1988). 2 Add to these Cukierman & Meltzer (1986), Nordhaus (1989), Terrones (1989), Ellis & Thoma (1991a,b, 1995, Alesina & Roubini (1992), Alesina et al (1992Alesina et al ( , 1993aAlesina et al ( , 1997, Garfinkel & Glazer (1994), Alesina & Rosenthal (1995), Sieg (1997), Lohmann (1998Lohmann ( , 1999, Carlsen & Pedersen (1999), Faust & Irons (1999), Gonzalez (1999aGonzalez ( ,b, 2000, Cusack (2000), and Heckelman (2001). For reviews, see Paldam (1997), Gärtner (2000), Persson & Tabellini (1990, 1994, Drazen (2000Drazen ( , 2001, and Olters (2001).…”
Section: Introductionmentioning
confidence: 99%
“…For reviews, see Alt & Chrystal (1983) and Willett (1988). 2 Add to these Cukierman & Meltzer (1986), Nordhaus (1989), Terrones (1989), Ellis & Thoma (1991a,b, 1995, Alesina & Roubini (1992), Alesina et al (1992Alesina et al ( , 1993aAlesina et al ( , 1997, Garfinkel & Glazer (1994), Alesina & Rosenthal (1995), Sieg (1997), Lohmann (1998Lohmann ( , 1999, Carlsen & Pedersen (1999), Faust & Irons (1999), Gonzalez (1999aGonzalez ( ,b, 2000, Cusack (2000), and Heckelman (2001). For reviews, see Paldam (1997), Gärtner (2000), Persson & Tabellini (1990, 1994, Drazen (2000Drazen ( , 2001, and Olters (2001).…”
Section: Introductionmentioning
confidence: 99%
“…October 29, 19901989-90 General Elections 1993October 6, 19931992-93 General Elections 1997February 3, 19971996-1997General Elections 2002October 10, 20022001-2002General Elections 2008February 18, 20082007-2008 16 …”
Section: Appendix Unit Root Test Resultsmentioning
confidence: 99%
“…There are other strands of research on political business cycles that I think would be interesting to re-visit with hyperbolic discounting, such as models with political-partisan competition (e.g., Hibbs 1977Hibbs , 1992Alesina and Rosenthal 1995) and political budget cycles (e.g., Aidt, Veiga, and Veiga 2011;Efthyvoulou 2012;Klomp and de Haan 2013;Foremny and Riedel 2014;Shelton 2014). It would also be very interesting to re-visit the literature on rational (opportunistic and partisan) political business cycles (e.g., Alesina 1987;Rogo¤ 1990;Sieg 1997Sieg , 2001Sieg , 2006Aidt, Veiga, and Veiga 2011) and explore how the predictions of such models might change under the alternative assumption of forward-looking hyperbolic discounting à la Strotz (1956) and Laibson (1997Laibson ( , 1998. Lastly, it would be of interest to see how the predicted political business cycle and the timing of elections might be a¤ected by hyperbolic discounting if the date of re-election is a choice variable of the incumbent (Chappell and Peel 1979;Lächler 1982).…”
Section: Discussionmentioning
confidence: 99%