Since the end of the New Deal era the Republicans have been much more successful than the Democrats at winning presidential elections. We offer an explanation of this in terms of the partisan theory. The partisan theory posits that Democrats and Republicans will follow different macroeconomic policies in accordance with the wishes of their partisans. The Democrats target unemployment rather than inflation; the Republicans target inflation rather than unemployment. We analyze the effect on the economy of the two parties acting in accordance with the partisan theory. If the Republican party is in office, as election time nears, the Republicans will be well placed to retain the White House. If Democratic party is in office it will be difficult for the party's presidential nominee to be elected. Empirical evidence from the Eisenhower presidency onwards supports the partisan model, but not for the Bush presidency. Our analysis implies that the next time the Democratic party wins the White House it should not follow its usual partisan macroeconomic policy because such a policy fails to reduce unemployment permanently and raises the inflation rate. If the Democrats want to be reelected they should follow the macroeconomic policies usually adopted by the Republicans.
Presidential Studies Quarterly (PSQ) is the only scholarly journal that focuses on the most powerful political figure in the world – the president of the United States. An indispensable resource for understanding the U.S. presidency, Presidential Studies Quarterly offers articles, features, review essays, and book reviews covering all aspects of the American presidency. PSQ's distinguished contributors are leading scholars and professionals in political science, history, and communications
Wiley is a global provider of content and content-enabled workflow solutions in areas of scientific, technical, medical, and scholarly research; professional development; and education. Our core businesses produce scientific, technical, medical, and scholarly journals, reference works, books, database services, and advertising; professional books, subscription products, certification and training services and online applications; and education content and services including integrated online teaching and learning resources for undergraduate and graduate students and lifelong learners. Founded in 1807, John Wiley & Sons, Inc. has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. Wiley has published the works of more than 450 Nobel laureates in all categories: Literature, Economics, Physiology or Medicine, Physics, Chemistry, and Peace. Wiley has partnerships with many of the world’s leading societies and publishes over 1,500 peer-reviewed journals and 1,500+ new books annually in print and online, as well as databases, major reference works and laboratory protocols in STMS subjects. With a growing open access offering, Wiley is committed to the widest possible dissemination of and access to the content we publish and supports all sustainable models of access. Our online platform, Wiley Online Library (wileyonlinelibrary.com) is one of the world’s most extensive multidisciplinary collections of online resources, covering life, health, social and physical sciences, and humanities.
This item is part of a JSTOR Collection.
For terms and use, please refer to our
Presidential Studies Quarterly
© 1992 Center for the Study of the Presidency and Congress