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Political Business Cycles in Varieties of Capitalistic Systems
Author(s) -
Beckmann Joscha,
Schweickert Rainer,
Jahn Marvin
Publication year - 2025
Publication title -
economics and politics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.822
H-Index - 45
eISSN - 1468-0343
pISSN - 0954-1985
DOI - 10.1111/ecpo.12331
Subject(s) - politics , economics , economic system , neoclassical economics , business cycle , political economy , keynesian economics , political science , law
ABSTRACT This study contributes to the literature on political business cycles by assessing the effect of elections on growth expectations based on expert survey data instead of using actual performance data. We analyze the different roles opportunistic and partisan politics play in varieties of capitalistic systems as a source of heterogeneity. Our results show that expectations differ remarkably between Liberal and Coordinated Market Economies (LME vs. CME) even independent of election outcomes.