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Article Dans Une Revue Public Choice Année : 2016

Political Business Cycles 40 Years after Nordhaus

Eric Dubois
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Résumé

The aim of this article is to survey the huge literature that has emerged in the last four decades following Nordhaus's (1975) publication on political business cycles (PBCs). I first propose some developments in history of thought to examine the context in which this groundbreaking contribution saw the light of the day. I also present a simplified version of Nordhaus's model to highlight his key results. I detail some early critiques of this model and the fields of investigations to which they gave birth. I then focus on the institutional context and examine its influence on political business cycles, the actual research agenda. Finally, I derive some paths for future research.
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Dates et versions

hal-01291401 , version 1 (21-03-2016)

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Eric Dubois. Political Business Cycles 40 Years after Nordhaus. Public Choice, 2016, 166 (1-2), pp.235-259. ⟨10.1007/s11127-016-0313-z⟩. ⟨hal-01291401⟩
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