English, Article, Journal or magazine article edition: Endogenous Election Timings and Political Business Cycles in Japan Takatoshi Ito

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Bookmark: http://trove.nla.gov.au/version/140763
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Endogenous Election Timings and Political Business Cycles in Japan
Author
  • Takatoshi Ito
Physical Description
  • preprint
Notes
  • This paper constructs a theoretical model of political business cycles in a Parliamentary system and tests predictions and hypotheses of a theoretical model against the post-war Japanese data. Unlike in a presidential system, the timing of a general election is an endogenous policy variable in a parliamentary system. Thus, one of the interesting questions in a parliamentary system is whether elections cause business cycles or economic expansions trigger general elections. Empirical analyses of the post-war Japanese experience strongly indicate that the Japanese government did not manipulate policies in anticipation of approaching elections as political business cycle theories in a presidential system indicate. Instead, general elections were usually held during times of autonomous economic expansion. In other words, the Japanese government opportunistically manipulated the timing of elections rather than the economy.
  • RePEc:nbr:nberwo:3128
Language
  • English
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