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Political Cycles And Cyclical Policies
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Book Synopsis Political Economy, Growth, and Business Cycles by : Alex Cukierman
Download or read book Political Economy, Growth, and Business Cycles written by Alex Cukierman and published by MIT Press. This book was released on 1992 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. What political and economic factors stimulate growth and make an economy expand? These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. Topics range from economic reform and price flexibility to the economic effects of political coups and include both theoretical analysis and empirical results.During the past decade, economists have seen important new developments linking growth and business cycles to government policy. These contributions provide a clear understanding of these processes and their effect in shaping economic policy. They look at the welfare side of economics and offer strong economic models to explain the connection between social policies and economic growth. For example, John Londregan and Keith Poole address the economic effects of political coups, Torsten Persson and Guido Tabellini explore the question of whether inequality is harmful for growth, and Stephen Parente and Edward Prescott look at the role of technology adoption in stimulating growth.The essays cover a wide range of approaches. Several focus on the interaction between growth and the choice of policy, where policy reacts to economic and distributional considerations through a majority rule process. Others take the policy as given and focus on the empirical estimation of the speed of convergence of rates of growth across states and regions and the importance of externalities and knowledge spillovers for rates of growth. Essays about the business cycle fall into two broad categories. One, arising from the new political economy tradition, examines the effects of elections and price decontrols on the business cycle. The other explores the implications of optimal economic policies in a representative agent framework for the cyclical behavior of the economy.
Book Synopsis Political Business Cycles by : Bruno S. Frey
Download or read book Political Business Cycles written by Bruno S. Frey and published by Edward Elgar Publishing. This book was released on 1997 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of articles on how the government influences the economy in order to secure re-election. This book surveys the empirical and major theoretical approaches, such as vote maximization, partisan and vote-cum-partisan models, and rational political business cycles. It provides extensions including the role of the central bank, of direct democracy, and the cycles in European communist countries, as well as discussing policy relevance.
Book Synopsis The Cycles of American History by : Arthur M. Schlesinger
Download or read book The Cycles of American History written by Arthur M. Schlesinger and published by HMH. This book was released on 1999-06-16 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Pulitzer Prize–winning historian discusses “the Cold War, political parties, the presidency, and many broader philosophical issues [with] incisive wit” (Library Journal). A celebrated historian, speechwriter, and adviser to President Kennedy, Arthur M. Schlesinger Jr. draws on decades of astute observation to construct a dialectic of American politics, or as Time magazine called it, a “recurring struggle between pragmatism and idealism in the American soul.” The Cycles of American History traces two conflicting visions of America—Experiment vs. Destiny—through two centuries of political evolution, conflict, and progress. In this updated edition, Schlesinger reflects on the dawn of a new millennium and how new social and technological revolutions could lead to a revolution in American political cycles. “Whatever the nation’s political future, it can benefit from the intelligence and regard for our country’s best traditions evident in these informed and humane essays.” —TheNew York Times “Displays the author at his best: trenchant, erudite, crisp.” —Foreign Affairs “An excellent and provocative primer on the challenges surrounding the contemporary American political setting . . . First-rate history mixed with a strong sense of public service.” —The Christian Science Monitor
Book Synopsis Political Cycles and Cyclical Policies by : Henry Ohlsson
Download or read book Political Cycles and Cyclical Policies written by Henry Ohlsson and published by . This book was released on 1993 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Systems in Crisis by : Charles F. Doran
Download or read book Systems in Crisis written by Charles F. Doran and published by Cambridge University Press. This book was released on 1991-07-26 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uncertainty is the watchword of contemporary world politics. Monumental changes are occurring throughout the international system and statespeople are wrestling with peaceful solutions to the transformation in relative power of the USA, Soviet Union and China, Japan and in Europe. In this book, Charles Doran proposes a managed solution to peaceful change. He presents a bold, original and wide-ranging analysis of the present balance of power, of future prospects for the international system and of the problems involved in this transformation. Professor Doran demonstrates why such change has often been accompanied by world war, providing new insights into the causes of the First World War. But, he argues, systems change can be both peaceful and secure. Developing a theory of the power cycle, the author reveals the structural bounds on statecraft and shows how the tides of history can suddenly and unexpectedly shift against the state.
Book Synopsis Regulatory Cycles: Revisiting the Political Economy of Financial Crises by : Jihad Dagher
Download or read book Regulatory Cycles: Revisiting the Political Economy of Financial Crises written by Jihad Dagher and published by International Monetary Fund. This book was released on 2018-01-15 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial crises are traditionally analyzed as purely economic phenomena. The political economy of financial booms and busts remains both under-emphasized and limited to isolated episodes. This paper examines the political economy of financial policy during ten of the most infamous financial booms and busts since the 18th century, and presents consistent evidence of pro-cyclical regulatory policies by governments. Financial booms, and risk-taking during these episodes, were often amplified by political regulatory stimuli, credit subsidies, and an increasing light-touch approach to financial supervision. The regulatory backlash that ensues from financial crises can only be understood in the context of the deep political ramifications of these crises. Post-crisis regulations do not always survive the following boom. The interplay between politics and financial policy over these cycles deserves further attention. History suggests that politics can be the undoing of macro-prudential regulations.
Book Synopsis Why is Fiscal Policy Often Procyclical? by : Alberto Alesina
Download or read book Why is Fiscal Policy Often Procyclical? written by Alberto Alesina and published by . This book was released on 2005 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many countries, especially developing ones, follow procyclical fiscal polices, namely spending goes up (taxes go down) in booms and spending goes down (taxes go up) in recessions. We provide an explanation for this suboptimal fiscal policy based upon political distortions and incentives for less-than-benevolent government to appropriate rents. Voters have incentives similar to the "starving the Leviathan" classic argument, and demand more public goods or fewer taxes to prevent governments from appropriating rents when the economy is doing well. We test this argument against more traditional explanations based purely on borrowing constraints, with a reasonable amount of success.
Book Synopsis Environmental and Energy Policy and the Economy by : Matthew J. Kotchen
Download or read book Environmental and Energy Policy and the Economy written by Matthew J. Kotchen and published by University of Chicago Press. This book was released on 2022-01-24 with total page 275 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume presents six new papers on environmental and energy economics and policy in the United States. Rebecca Davis, J. Scott Holladay, and Charles Sims analyze recent trends in and forecasts of coal-fired power plant retirements with and without new climate policy. Severin Borenstein and James Bushnell examine the efficiency of pricing for electricity, natural gas, and gasoline. James Archsmith, Erich Muehlegger, and David Rapson provide a prospective analysis of future pathways for electric vehicle adoption. Kenneth Gillingham considers the consequences of such pathways for the design of fuel vehicle economy standards. Frank Wolak investigates the long-term resource adequacy in wholesale electricity markets with significant intermittent renewables. Finally, Barbara Annicchiarico, Stefano Carattini, Carolyn Fischer, and Garth Heutel review the state of research on the interactions between business cycles and environmental policy.
Book Synopsis Hysteresis and Business Cycles by : Ms.Valerie Cerra
Download or read book Hysteresis and Business Cycles written by Ms.Valerie Cerra and published by International Monetary Fund. This book was released on 2020-05-29 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
Book Synopsis Presidential Leadership in Political Time by : Stephen Skowronek
Download or read book Presidential Leadership in Political Time written by Stephen Skowronek and published by University Press of Kansas. This book was released on 2020-01-30 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this expanded third edition, renowned scholar Stephen Skowronek, addresses Donald J. Trump’s presidency. Skowronek’s insights have fundamentally altered our understanding of the American presidency. His “political time” thesis has been particularly influential, revealing how presidents reckon with the work of their predecessors, situate their power within recent political events, and assert their authority in the service of change. A classic widely used in courses on the presidency, Skowronek’s book has greatly expanded our understanding of and debates over the politics of leadership. It clarifies the typical political problems that presidents confront in political time, as well as the likely effects of their working through them, and considers contemporary innovations in our political system that bear on the leadership patterns from the more distant past. Drawing out parallels in the politics of leadership between Andrew Jackson and Franklin Roosevelt and between James Polk and John Kennedy, it develops a new and revealing perspective on the presidential leadership of Clinton, Bush, Obama, and now Trump. In this third edition Skowronek carefully examines the impact of recent developments in government and politics on traditional leadership postures and their enactment, given the current divided state of the American polity, the impact of the twenty-four-hour news cycle, of a more disciplined and homogeneous Republican party, of conservative advocacy of the “unitary theory” of the executive, and of progressive disillusionment with the presidency as an institution. A provocative review of presidential history, Skowronek’s book brims with fresh insights and opens a window on the institution of the executive office and the workings of the American political system as a whole. Intellectually satisfying for scholars, it also provides an accessible volume for students and general readers interested in the American presidency.
Book Synopsis Cycles in US Foreign Policy since the Cold War by : Thomas H. Henriksen
Download or read book Cycles in US Foreign Policy since the Cold War written by Thomas H. Henriksen and published by Springer. This book was released on 2017-01-25 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book describes how American international policy alternates between engagement and disengagement cycles in world affairs. These cycles provide a unique way to understand, assess, and describe fluctuations in America’s involvement or non-involvement overseas. In addition to its basic thesis, the book presents a fair-minded account of four presidents’ foreign policies in the post-Cold War period: George H.W. Bush, Bill Clinton, George W. Bush, and Barack Obama. It suggests recurring sources of cyclical change, along with implications for the future. An engaged or involved foreign policy entails the use of military power and diplomatic pressure against other powers to secure American ends. A disengaged on noninvolved policy relies on normal economic and political interaction with other states, which seeks to disassociation from entanglements.
Book Synopsis Fiscal Policy in Developing Countries: by : Roberto Perotti
Download or read book Fiscal Policy in Developing Countries: written by Roberto Perotti and published by World Bank Publications. This book was released on 2007 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper surveys fiscal policy in developing countries from the point of view of long-run growth. The first section reviews existing methodologies to estimate the effects of fiscal policy shocks and of systematic fiscal policy, with time series or with cross-sectional methods, and their applicability to developing countries. The second section surveys optimal fiscal policy in developing countries, by considering the role of the intertemporal government budget, and sustainability and solvency. It also reviews the fuzzy debate on "fiscal space" and "macroeconomic space" - and the usefulness (or lack thereof) of these terms for policy analysis. The third section asks what theory tells us about the optimal cyclical behavior of fiscal policy in developing countries. It shows that it very much depends on the assumptions about the interactions between credit market imperfections at the individual, firms, or government level, and on the supply of external funds to the country. Different sets of assumptions lead to different implications about optimal cyclical behavior. The available evidence on the cyclical behavior of fiscal policy, and possible reasons for the observed prevalence of a procyclical behavior in developing countries, is also reviewed. If one agrees that fiscal policy is indeed less countercyclical than we think is optimal, the issue is how to correct the problem. One obvious question is why government do not self-insure, i.e. why they do not accumulate assets in upturns and decumulate them in downturns. This leads to the analysis of fiscal rules and stabilization funds, in the fourth section. The last section concludes with what the author considers important research and policy questions in each part.
Book Synopsis Redefining Capitalism in Global Economic Development by : Kui-Wai Li
Download or read book Redefining Capitalism in Global Economic Development written by Kui-Wai Li and published by Academic Press. This book was released on 2017-06-07 with total page 477 pages. Available in PDF, EPUB and Kindle. Book excerpt: Redefining Capitalism in Global Economic Development reconsiders capitalism by taking into account the unfolding forces of economic globalization, especially in Asian economies. It explores the economic implications and consequences of recent financial crises, terrorism, ultra-low interest rates that are decades-long, debt-prone countries and countries with large trade surpluses. The book illuminates these economic implications and consequences through a framework of capitalist ideologies and concepts, recognizing that Asia is redefining capitalism today. The author, Li, seeks not to describe why nations fail, but how the sustainability of capitalism can save the world. - Merges capitalist theory with global events, as few books do - Emphasizes ways to interpret capitalist ideas in light of current global affairs - Reframes capitalism via economics, supported by insights from political science, sociology, international relations and peace studies
Book Synopsis Long Cycles in World Politics by : George Modelski
Download or read book Long Cycles in World Politics written by George Modelski and published by Palgrave Macmillan. This book was released on 2014-01-14 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The American Business Cycle by : Robert J. Gordon
Download or read book The American Business Cycle written by Robert J. Gordon and published by University of Chicago Press. This book was released on 2007-11-01 with total page 882 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depression. These circumstances have prompted renewed interest in the concept of business cycles, which Joseph Schumpeter suggested are "like the beat of the heart, of the essence of the organism that displays them." In The American Business Cycle, some of the most prominent macroeconomics in the United States focuses on the questions, To what extent are business cycles propelled by external shocks? How have post-1946 cycles differed from earlier cycles? And, what are the major factors that contribute to business cycles? They extend their investigation in some areas as far back as 1875 to afford a deeper understanding of both economic history and the most recent economic fluctuations. Seven papers address specific aspects of economic activity: consumption, investment, inventory change, fiscal policy, monetary behavior, open economy, and the labor market. Five papers focus on aggregate economic activity. In a number of cases, the papers present findings that challenge widely accepted models and assumptions. In addition to its substantive findings, The American Business Cycle includes an appendix containing both the first published history of the NBER business-cycle dating chronology and many previously unpublished historical data series.
Book Synopsis Partisan Politics, Divided Government, and the Economy by : Alberto Alesina
Download or read book Partisan Politics, Divided Government, and the Economy written by Alberto Alesina and published by Cambridge University Press. This book was released on 1995-01-27 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Budget Deficits and Budget Institutions by : Mr.Alberto Alesina
Download or read book Budget Deficits and Budget Institutions written by Mr.Alberto Alesina and published by International Monetary Fund. This book was released on 1996-05-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: By discussing the available theoretical and empirical literature, this paper argues that budget procedures and budget institutions do influence budget outcomes. Budget institutions include both procedural rules and balanced budget laws. We critically assess theoretical contributions in this area and suggest several open and unresolved issue. We also examine the empirical evidence drawn from studies on samples of OECD countries, Latin American countries and the United States. We conclude with a discussion of the normative implications of this literature and with some concrete proposals.
