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Financing divided and unified partisan governments

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  • Jac Heckelman

Abstract

By modifying Berument's divided government-optimum financing model to include partisan interests, it is found that when the Democratic party controls both the Congress and Presidency, real monetary base grows at a higher rate than when the Republican party controls both branches. In addition, it is found that monetary base grows at the slowest rate when neither party controls both branches, supporting a gridlock version of divided government.

Suggested Citation

  • Jac Heckelman, 1998. "Financing divided and unified partisan governments," Applied Economics Letters, Taylor & Francis Journals, vol. 5(12), pages 789-791.
    • Handle: RePEc:taf:apeclt:v:5:y:1998:i:12:p:789-791
    DOI: 10.1080/135048598354041
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    References listed on IDEAS

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    1. Alesina, Alberto & Sachs, Jeffrey, 1988. "Political Parties and the Business Cycle in the United States, 1948-1984," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(1), pages 63-82, February.
    2. Hakan Berument, 1997. "Financing divided governments," Applied Economics Letters, Taylor & Francis Journals, vol. 4(6), pages 369-372.
    3. Sam Peltzman, 1992. "Voters as Fiscal Conservatives," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 107(2), pages 327-361.
    4. Andrabi, Tahir, 1997. "Seigniorage, Taxation, and Weak Government," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 29(1), pages 106-126, February.
    5. Zupan, Mark A, 1991. "An Economic Explanation for the Existence and Nature of Political Ticket Splitting," Journal of Law and Economics, University of Chicago Press, vol. 34(2), pages 343-369, October.
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