The Political Business Cycle: New Evidence from the Nixon Tapes

Burton Abrams and James Butkiewicz

No 11-05, Working Papers from University of Delaware, Department of Economics

Abstract: Drawing from the personal tape recordings made during the presidency of Richard Nixon, we uncover and report in this paper new evidence that Nixon manipulated Arthur Burns and the Federal Reserve Bank into creating a political business cycle that helped secure Nixon’s reelection victory in 1972. Nixon understood the risks that his desired monetary policy imposed, but chose to trade longer-term economic costs to the economy for his own short-term political benefit.

Keywords: Monetary Policy; Political Business Cycle (search for similar items in EconPapers)
JEL-codes: E3 E5 E58 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2011
New Economics Papers: this item is included in nep-cba, nep-his, nep-hpe, nep-mac and nep-pol
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Forthcoming in Journal of Money, Credit and Banking.

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Related works:
Journal Article: The Political Business Cycle: New Evidence from the Nixon Tapes (2012)
Journal Article: The Political Business Cycle: New Evidence from the Nixon Tapes (2012)
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