The Political Business Cycle.

Nordhaus, W. D. (1975). The Political Business Cycle. Review of Economic Studies, 42(2), 169-190.

Type

Journal article

Intellectual base

Review or monograph

Year

1975

Volume

42

Issue

2

Pages

169-190

DOI

10.2307/2296528

DOI registrant

Oxford University Press

Link

https://doi.org/10.2307/2296528

Cited from

computer_science, law_governance

Cited by

2 citations across 2 artifacts.

Each citation links to the sentence it supports in the citing article.

Primes

• Editorial Independence
  • The interested party is the incumbent government, which has standing to benefit from a particular conclusion: lower rates and looser policy before an election produce a short-run boom, even at the cost of later inflation.

    This sourceModels the incumbent government's incentive to engineer a pre-election boom, the interested-party motive central-bank independence is designed to firewall.

• Greedy Algorithm
  • The same three patches port: lookahead as multi-year treaty commitments, Randomization as independent agencies insulated from the cycle, restart as constitutional moments.

Verification

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