Journal ArticleDOI
Government ideology and economic policy-making in the United States—a survey
Niklas Potrafke,Niklas Potrafke +1 more
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In this paper, the influence of government ideology on economic policy-making in the United States is analyzed using data for the national, state and local levels and elaborate on checks and balances, especially divided government, measurement of government ideologies and empirical strategies to identify causal effects.Abstract:
This paper describes the influence of government ideology on economic policy-making in the United States. I review studies using data for the national, state and local levels and elaborate on checks and balances, especially divided government, measurement of government ideology and empirical strategies to identify causal effects. Many studies conclude that parties do matter in the United States. Democratic presidents generate, for example, higher rates of economic growth than Republican presidents, but these studies using data for the national level do not identify causal effects. Ideology-induced policies are prevalent at the state level: Democratic governors implement somewhat more expansionary and liberal policies than Republican governors. At the local level, government ideology hardly influences economic policy-making at all. How growing political polarization and demographic change will influence the effects of government ideology on economic policy-making will be an important issue for future research.read more
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Explaining Governors' Response to the COVID-19 Pandemic in the United States
Leonardo Baccini,Abel Brodeur +1 more
TL;DR: In this article, the authors explore the determinants of implementing stay-at-home orders, focusing on governors' characteristics and the response of U.S. governors to the COVID-19 pandemic.
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Political Cycles and Stock Returns
Lubos Pastor,Pietro Veronesi +1 more
TL;DR: This paper developed a model of political cycles driven by time-varying risk aversion, which implies that when risk aversion is high, agents are more likely to elect the party promising more fiscal redistribution.
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Does a Change of Government Influence Compliance with International Agreements? Empirical Evidence for the NATO Two Percent Target
TL;DR: In this paper, the authors examine whether changes of government influence compliance with international agreements can affect the compliance with the NATO two percent target to which all NATO countries committed themselve.
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Noisy Retrospection: The Effect of Party Control on Policy Outcomes
Adam M. Dynes,John B. Holbein +1 more
TL;DR: The authors found that states governed by Democrats and those by Republicans perform equally well on economic, education, crime, family, social, environmental, and health outcomes on the timeline introduced by elections (2-4 years downstream).
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Behavioral Determinants of Proclaimed Support for Environment Protection Policies
TL;DR: In this paper, the authors used a representative survey of German university students to confirm that proclaimed support for environment protection policies depends on socio-cultural factors and political ideology and found that the environmental policy stance of German partisans does not follow the left-right cleavage.
References
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Regression Discontinuity Designs in Economics
TL;DR: In this article, the authors provide an introduction and user guide to regression discontinuity (RD) design for empirical researchers, including the basic theory behind RD design, details when RD is likely to be valid or invalid given economic incentives.
Journal ArticleDOI
Political Parties and Macroeconomic Policy
TL;DR: This article examined postwar patterns in macroeconomic policies and outcomes associated with left-and right-wing governments in capitalist democracies and concluded that the objective economic interests as well as the subjective preferences of lower income and occupational status groups are best served by a relatively low unemployment-high inflation macroeconomic configuration, whereas a comparatively high unemployment-low inflation configuration is compatible with the interests and preferences of upper income and occupation status groups.
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Regression discontinuity designs in economics
David S. Lee,Thomas Lemieux +1 more
TL;DR: In this paper, the authors provide an introduction and user guide to regression discontinuity (RD) designs for empirical researchers, and discuss the advantages and disadvantages of estimating RD designs and the limitations of interpreting these estimates.
Book
Polarized America: The Dance of Ideology and Unequal Riches
TL;DR: McCarty et al. as mentioned in this paper examined the relationship of polarization, wealth disparity, immigration, and other forces, characterizing it as a dance of give and take and back and forth causality.
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Top Incomes in the Long Run of History
TL;DR: A recent literature has constructed top income shares time series over the long run for more than twenty countries using income tax statistics as discussed by the authors, and the estimation methods and issues that arise when constructing top income share series, including income definition and comparability over time and across countries, tax avoidance and tax evasion.