Abstract

LOPEZ G., Mauricio  and  RODRIGUEZ V., Amalia. Political cycles and macroeconomic aggregates: an analysis for the Colombian case (1970-2005). Perf. de Coyunt. Econ. [online]. 2008, n.12, pp.137-158. ISSN 1657-4214.

The political cycle’s theory has been considerably developed within the last decades, while the applied papers try to predict more exactly the effect of the decisions made by the policymakers about economic aggregates. This work tries to evaluate empirically some of the postulates proposed by the theory for the Colombian case, between 1970-2005. The results allows verifying the existence of opportunistic political and economic cycles for product, unemployment and fiscal deficit, and for partisan models, the results reveal the existence of differences between the parties in handling inflation and unemployment.

Keywords : political business cycle; opportunistic political cycle; partisan political cycle; GDP gap.

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