LEADER 06592nam 2200601Ia 450 001 9910812736203321 005 20230911174301.0 010 $a0-674-03863-0 024 7 $a10.4159/9780674038639 035 $a(CKB)1000000000787002 035 $a(StDuBDS)AH23050731 035 $a(SSID)ssj0000482693 035 $a(PQKBManifestationID)11331264 035 $a(PQKBTitleCode)TC0000482693 035 $a(PQKBWorkID)10544555 035 $a(PQKB)11732477 035 $a(Au-PeEL)EBL3300300 035 $a(CaPaEBR)ebr10314312 035 $a(OCoLC)923110029 035 $a(DE-B1597)574361 035 $a(DE-B1597)9780674038639 035 $a(MiAaPQ)EBC3300300 035 $a(EXLCZ)991000000000787002 100 $a19871106d1987 uy 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 14$aThe American political economy $emacroeconomics and electoral politics /$fDouglas A. Hibbs, Jr 210 1$aCambridge, Mass. :$cHarvard University Press,$d1987. 215 $a1 online resource (xiii, 404 pages) $cillustrations 300 $aBibliographic Level Mode of Issuance: Monograph 311 0 $a0-674-02736-1 311 0 $a0-674-02735-3 320 $aIncludes bibliography and index. 327 $aIntroduction: A Framework for the Analysis of Macroeconomics and Electoral Politics Macroeconomic and Institutional Background The Demand for Economic Outcomes The Supply of Economic Outcomes I. MACROECONOMIC AND INSTITUTIONAL BACKGROUND 1. Postwar American Macroeconomic Performance in Historical Perspective Growth and Unemployment Inflation The Bias toward Inflation Monetary Policy, the Financial System, and Economic Stabilization Fiscal Policy and Economic Stabilization The Security-Inflation Trade-Off 2. The Costs of Unemployment Defining, Interpreting, and Measuring Unemployment The Aggregate Costs of Unemployment The Incidence of Unemployment The Costs of Unemployment to Individuals 3. The Costs of Inflation Defining and Measuring Inflation Recent Trends and Fluctuations in the Underlying Inflation Rate Inflation and the Distribution of Personal Income Inflation and Personal Income Growth Rates Inflation and Corporate Profitability Saving, Investment, and Inflation Inflation's True Costs II. THE DEMAND FOR ECONOMIC OUTCOMES 4. Public Concern about Inflation and Unemployment The Salience of the Economy as a Public Issue The Distribution of Concern about Inflation and Unemployment in the General Electorate The Distribution of Concern about Inflation and Unemployment among Income, Occupational, and Partisan Groups 5. Macroeconomic Performance and Mass Political Support for the President The Political Support Model Empirical Results A Concluding Word on the Economy and Political Support for Presidents 6. Economic Performance and the 1980 and 1984 Elections Landslide Elections in Recent History Election Cycle Economics in 1980 and 1984 Rule-of-Thumb Statistical Models for Presidential Voting Outcomes Evidence from the Surveys Implications for the Future of Conservative Republicanism III. THE SUPPLY OF ECONOMIC OUTCOMES 7. Political Parties and Macroeconomic Policies and Outcomes The Party Cleavage Model Unemployment and Real Output under the Parties Empirical Results for the Models Distributional Outcomes under the Parties Macroeconomic Policies 8. Political Business Cycles The Theory of Election Cycles Empirical Analysis of Election Cycles Election Cycles and Partisan Cycles Politics and the Economy 9. Macroeconomic and Distributional Outcomes during Reagan's First Four Years Macroeconomic Goals, Policies, and Outcomes under Reagan Distributional Politics and Partisan Cleavages in Congress Distributional Consequences of the Reagan Fiscal Program The Legacy of Reaganomics to the American Political Economy Notes Index 330 $bHere is the most comprehensive and authoritative work to date on relationships between the economy and politics in the years from Eisenhower through Reagan. Extending and deepening his earlier work, which had major impact in both political science and economics, Hibbs traces the patterns in and sources of postwar growth, unemployment, and inflation. He identifies which groups "win" and "lose" from inflations and recessions. He also shows how voters' perceptions and reactions to economic events affect the electoral fortunes of political parties and presidents. Hibbs's analyses demonstrate that political officials in a democratic society ignore the economic interests and demands of their constituents at their peril, because episodes of prosperity and austerity frequently have critical influence on voters' behavior at the polls. The consequences of Eisenhower's last recession, of Ford's unwillingness to stimulate the economy, of Carter's stalled recovery were electorally fatal, whereas Johnson's, Nixon's, and Reagan's successes in presiding over rising employment and real incomes helped win elections. The book develops a major theory of macroeconomic policy action that explains why priority is given to growth, unemployment, inflation, and income distribution shifts with changes in partisan control of the White House. The analysis shows how such policy priorities conform to the underlying economic interests and preferences of the governing party's core political supporters. Throughout the study Hibbs is careful to take account of domestic institutional arrangements and international economic events that constrain domestic policy effectiveness and influence domestic economic outcomes. Hibbs's interdisciplinary approach yields more rigorous and more persuasive characterizations of the American political economy than either purely economic, apolitical analyses or purely partisan, politicized accounts. His book provides a useful benchmark for the advocacy of new policies for the 1990s--a handy volume for politicians and their staffs, as well as for students and teachers of politics and economics. 606 $aBusiness cycles$xPolitical aspects$zUnited States 606 $aElections$zUnited States 607 $aUnited States$xEconomic policy$y1981-1993 607 $aUnited States$xEconomic conditions$y1981-2001 615 0$aBusiness cycles$xPolitical aspects 615 0$aElections 676 $a338.973 700 $aHibbs$b Douglas A.$f1944-$0231904 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910812736203321 996 $aThe American political economy$94084267 997 $aUNINA