English, Article edition: THE FED AND THE POLITICAL BUSINESS CYCLE NATHANIEL BECK

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Physical Description
  • article
Language
  • English

Edition details

Title
  • THE FED AND THE POLITICAL BUSINESS CYCLE
Author
  • NATHANIEL BECK
Physical Description
  • article
Notes
  • RePEc:bla:coecpo:v:9:y:1991:i:2:p:25-38
  • This study asks whether the Federal Reserve has actively made monetary policy so as to aid the president's reelection. Using Shiller's smoothness "prior" to estimate the shape of cycles, the study finds a political business cycle in unemployment and a preelection increase in growth of the money supply. But the timing of these two cycles is inconsistent. Furthermore, little evidence exists of a cycle in the instruments of monetary policy. Thus, the Fed is not actively creating a political business cycle. Apparently, movements in real money that are not caused-but are not offset-by the Fed are an important cause of the political business cycle. Copyright 1991 Western Economic Association International.
  • RePEc:bla:coecpo:v:9:y:1991:i:1:p:25-38
Language
  • English
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