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A political business cycle with boundedly rational agents

✍ Scribed by Gernot Sieg

Book ID
114179147
Publisher
Elsevier Science
Year
2001
Tongue
English
Weight
274 KB
Volume
17
Category
Article
ISSN
0176-2680

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This essay argues that politically motivated business cycles could persist in a democratic society even if the electorate votes in a rational, fully informed manner, provided that government policymakers have the means to systematically generate macroeconomic fluctuations. This cyclic outcome reflec