http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
1 online resource (xvii, 275 pages 59 illustrations)
Subject of this book is the intersection between political science and macroeconomics. The central idea is the existence of a political economic equilibrium in which the government acts to dampen the business cycle. The election cycle implies that this equilibrium may be a cycle rather than a point. An extension of new Keynesian theory provides a model of endogenous stabilization in which the government practices short-run stabilization policy which dampens the impact of exogenous shocks. This is a situation in which rational voters favor discretionary policy over a fixed policy rule even with rational economic agents. Special attention is given to the relevant data and to the possibilities of hypothesis testing.
From the contents: A Historical Introduction -- Microeconomic Foundations -- Social Choice -- Short-Run Macro Models -- The Phillips Curve and Expectations -- Fiscal and Monetary Policy -- Keynesian Business Cycles -- Citizen Preferences for Stabilization -- Endogenous Stabilization and Macroeconomic Ideology -- Theories of the Political Business Cycle -- Evidence of Political Business Cycles -- Government Debt, Deficit and Social Security -- Conclusion.