Political Parties and Government Behaviour

Colin Wren

Bulletin of Economic Research, 1992, vol. 44, issue 2, 125-40

Abstract: This paper attempts to explain and identify differences in party political behavior in office, in terms of the weight they attach to unemployment and inflation. Reasons are advanced to suggest that incumbents do not take-up the median voter position, but instead pursue differentiated policies (i.e. make choices) which are both consistent with their known ideology (preferences) and with maximizing their share of the vote at the next election. The model is fitted with U.K. data, and the results are encouraging, providing some support for the notion that parties pursue politically-motivated policies throughout their term of office and not just in the run-up to elections. Copyright 1992 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Date: 1992
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