Random timing of elections and the polit
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Victor Ginsburgh; Philippe Michel
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Article
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1983
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Springer US
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English
β 386 KB
In his 1975 paper, Nordhaus formally proves that governments whose aim is to be reelected, will generate 'political' business cycles. Empirical results do not confirm this proposition, especially in countries used to early elections. We show that if there is a non-zero probability for elections to