Partisan politics, divided government, and the economy

Description:

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.

subjects: Business cycles,  Divided government,  Economic policy,  Election,  History,  Political aspects,  Political aspects of Business cycles,  Presidents,  Representative government and representation,  Prise de décision,  Economische politiek,  Cycles économiques,  Régime représentatif,  Eleicoes,  Economie politique et politique,  Economia politica,  Historia dos estados unidos,  Aspect politique,  Politisches System,  Économie politique,  Wirtschaftspolitik,  Politieke besluitvorming,  Rational Choice,  Histoire,  Elections,  Élection,  États-Unis,  Présidents,  Politique et gouvernement,  Gouvernement représentatif,  Wahlverhalten,  Politique économique,  Decision making,  Presidents, united states, election,  United states, economic policy

Places: United States

Times: 20th century,  Decision making