Journal Article
Political Business Cycles in Varieties of Capitalistic Systems
This paper contributes to the literature on political business cycles by assessing the effect of elections on growth expectations based on expert survey data instead of using actual performance data. We analyze different roles opportunistic and partisan politics play in varieties of capitalistic systems as a source of heterogeneity. Our results show that expectations differ remarkably between Liberal and Coordinated Market Economies (LME vs. CME) even independent of election outcomes.
Key Words
- Expectations
- Political Business cycles
- Varieties of Capitalism