U.S. politics and the American macroeconomy / Gerald T. Fox.

Format:

Book

Author/Creator:

Fox, Gerald T., author.

Series:

Economics collection. 2163-7628

Economics collection, 2163-7628

Language:

English

Subjects (All):

Macroeconomics.

Phillips curve.

United States--Economic policy--2009-.

United States.

Physical Description:

1 online resource (196 p.)

Edition:

First edition.

Other Title:

United States politics and the American macroeconomy.

Place of Publication:

New York, New York (222 East 46th Street, New York, NY 10017) : Business Expert Press, 2015.

Summary:

This book considers the interrelation among macroeconomic politics, macroeconomic policymakers, macroeconomic policies, and macroeconomic performance. This interaction is examined using the expectational Phillips curve model, which measures macroeconomic outcomes in terms of inflation and unemployment. In this book, the subject of macroeconomic politics mainly focuses on voter behavior, presidential re-election ambition, and political party priorities. These factors influence the macroeconomic policy actions of the president, Congress, and the central bank. This analysis takes into account both fiscal and monetary policies. Our examination of citizen sentiment is based on rational voter theory and the median voter model. We compare the effects of macroeconomic farsightedness versus shortsightedness among voters. We also contrast the conservative versus liberal perspectives on macroeconomic policy and performance. The empirical component of our analysis examines the electoral and partisan political business cycle effects upon the U.S. economy, and we find evidence of idiosyncratic effects during the time frame of 1961 through 2014. Finally, we discuss macroeconomic influence on various measures of voter sentiment, such as presidential job approval as well as presidential and congressional election outcomes.

Contents:

1. Introduction: political macroeconomy

2. Macroeconomic measurements and the business cycle

3. Mainstream macroeconomic theory and the expectational Phillips curve model

4. Fiscal and monetary policies

5. Voter rationality and macroeconomic preferences

6. Electoral political business cycle

7. Partisan political business cycle

8. Evidence of electoral and partisan cycles

9. Other PBC considerations regarding macroeconomic policy

10. Economic influence on public sentiment and voter behavior

11. Conclusion

References

Index.

Notes:

Description based upon print version of record.

Includes bibliographical references (pages 175-176) and index.

Title from PDF title page (viewed on July 24, 2015).

ISBN:

1-60649-533-X

OCLC:

914394585