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Article: The political theory of the business cycle and the economics of presidential elections.
- Article from:
- Arkansas Business and Economic Review
- Article date:
- June 22, 1992
- Author:
CopyrightCOPYRIGHT 1992 University of Arkansas, Bureau of Business and Economic Research. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Part I
Introduction
Over the past two decades a body of literature, both theoretical and empirical, has developed that examines the relationship between the election success of presidential candidates and the performance of the economy. Simply stated, the theory rests on the basic premise that voters tend to cast their ballots in presidential elections according to their economic interests. A separate, but related theory deals with the premise that the presidential party in power will implement policies designed to maintain itself in power.
Empirical studies testing the hypothesis that presidential election outcomes are directly related to the ...