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POLITICS WITH AND WITHOUT POLICY †
Author(s) -
Garfinkel Michelle R.,
Glazer Amihai
Publication year - 1996
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/j.1468-0343.1996.tb00131.x
Subject(s) - politics , government (linguistics) , lead (geology) , economics , control (management) , microeconomics , public economics , political economy , political science , law , management , geomorphology , geology , philosophy , linguistics
When strategic complementarities lead to the existence of multiple equilibria, a change in control of government may lead to changes in economic behavior by consumers or firms even if the different parties pursue the same policies. The existence of multiple equilibria, however, is not necessary to predict partisan effects. Furthermore, electoral uncertainty is not necessary to generate partisan effects; indeed, such uncertainty can dampen the cycle.