Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 203–235 |
| Number of pages | 33 |
| Journal | Journal of Money, Credit and Banking |
| Volume | 42 |
| Issue number | 2-3 |
| DOIs | |
| Publication status | Published - Apr 2010 |
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Keywords
- partisan
- politics
- Germany
- coalition
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Capitalizing on partisan politics? The political economy of sector-specific redistribution in Germany. / Bechtel, Michael M.; Füss, Roland.
In: Journal of Money, Credit and Banking, Vol. 42, No. 2-3, 04.2010, p. 203–235.Research output: Contribution to journal › Article
TY - JOUR
T1 - Capitalizing on partisan politics? The political economy of sector-specific redistribution in Germany
AU - Bechtel, Michael M.
AU - Füss, Roland
N1 - Fuss is also Fuess. ET 1-11-13
PY - 2010/4
Y1 - 2010/4
N2 - This paper studies the redistributive effects of government partisanship on economic sectors in a parliamentary democracy. Based on a rational partisan perspective and policy-induced campaign contribution models, we expect that once in office, ideologically different parties deliver favorable policies to different industries in order to enrich their electoral and sector-specific supporters. Using daily stock market data, we empirically evaluate whether and how the mean and the volatility of returns to four important economic sectors covaried with the electoral prospects of a right-/left-leaning coalition in Germany from 1991 to 2005.
AB - This paper studies the redistributive effects of government partisanship on economic sectors in a parliamentary democracy. Based on a rational partisan perspective and policy-induced campaign contribution models, we expect that once in office, ideologically different parties deliver favorable policies to different industries in order to enrich their electoral and sector-specific supporters. Using daily stock market data, we empirically evaluate whether and how the mean and the volatility of returns to four important economic sectors covaried with the electoral prospects of a right-/left-leaning coalition in Germany from 1991 to 2005.
KW - partisan
KW - politics
KW - Germany
KW - coalition
U2 - 10.1111/j.1538-4616.2009.00285.x
DO - 10.1111/j.1538-4616.2009.00285.x
M3 - Article
VL - 42
SP - 203
EP - 235
JO - Journal of Money, Credit and Banking
JF - Journal of Money, Credit and Banking
SN - 0022-2879
IS - 2-3
ER -