Political Business Cycles

Booknews

Contains 23 seminal papers published between 1943 and 1994. The papers in the first three sections include surveys, such as William D. Nordhaus' "Alternative Approaches to the Political Business Cycle" (1989); forerunners, including one forgotten 1943 article by Michael Kalecki; and empirical accounts of the political cycle. The central contributions to the field are presented under three headings: the vote maximizing models, the partisan models, and the vote-cum-partisan models. The final sections discuss the rational political business cycles; some extensions, such as political systems beyond representative democracies; and the policy relevance of political business cycles. No index. Annotation c. by Book News, Inc., Portland, Or.