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Electoral Uncertainty and the Macroeconomy: The Evidence from Canada

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  • Heckelman, Jac C

Abstract

The partisan advantage and incumbency advantage versions of the rational partisan business cycle model are tested. Both models assume agents form weighted averages of partisan inflation rates during an election period, and differ only in how the weights are formed which alters the form of business cycles. The partisan advantage assumes fixed weights designated for both major parties in each election, whereas the incumbency advantage model assumes fixed weights for whichever is the incumbent and opposition party in each election. The symmetric representation assumes each election is a toss-up. Strongest support is found for a temporary symmetric effect on the level of output, but none of the models are supported for temporary electoral changes in growth or unemployment rates. Copyright 2002 by Kluwer Academic Publishers

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  • Heckelman, Jac C, 2002. "Electoral Uncertainty and the Macroeconomy: The Evidence from Canada," Public Choice, Springer, vol. 113(1-2), pages 179-189, October.
    • Handle: RePEc:kap:pubcho:v:113:y:2002:i:1-2:p:179-89
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    Cited by:

    1. J. Stephen Ferris & Marcel-Cristian Voia, 2021. "Elections, economic outcomes and policy choices in Canada: 1870 – 2015," Applied Economics, Taylor & Francis Journals, vol. 53(16), pages 1840-1855, April.
    2. J. Ferris & Soo-Bin Park & Stanley Winer, 2008. "Studying the role of political competition in the evolution of government size over long horizons," Public Choice, Springer, vol. 137(1), pages 369-401, October.
    3. Chang, Koyin & Kim, Yoonbai & Tomljanovich, Marc & Ying, Yung-Hsiang, 2013. "Do political parties foster business cycles? An examination of developed economies," Journal of Comparative Economics, Elsevier, vol. 41(1), pages 212-226.
    4. J. Stephen Ferris & Stanley L. Winer, 2006. "Politics, political competition and the political budget cycle in Canada, 1870 - 2000: a search across alternative fiscal instruments," Carleton Economic Papers 06-05, Carleton University, Department of Economics.
    5. Niklas Potrafke, 2012. "Political cycles and economic performance in OECD countries: empirical evidence from 1951–2006," Public Choice, Springer, vol. 150(1), pages 155-179, January.
    6. Mechtel, Mario & Potrafke, Niklas, 2009. "Political Cycles in Active Labor Market Policies," MPRA Paper 14270, University Library of Munich, Germany.
    7. J. Stephen Ferris & Soo-Bin Park & Stanley L. Winer, 2005. "Political Competition and Convergence to Fundamentals: With Application to the Politcal Business Cycle and the Size of the Public Sector," Carleton Economic Papers 05-09, Carleton University, Department of Economics.
    8. J Stephen Ferris & Soo-Bin Park & Stanley L. Winer, 2006. "Political Competition and Convergence to Fundamentals: With Application to the Political Business Cycle and the Size of Government," CESifo Working Paper Series 1646, CESifo.

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