What Drives Political Parties' Commitment to the ‘Stability Culture’? An Empirical Analysis Based on the Electoral Manifestos Issued in EU Member States
利用1990-2012年27个欧盟国家政党的选举宣言数据，分析政党对“稳定文化”（强调价格稳定、财政纪律和公共支出上限）的承诺受其意识形态背景和选前宏观经济状况的影响。
Abstract By using data extracted from the political manifestos released by national political parties from 27 European Union countries over the 1990–2012 period, we estimate non‐linear econometric models whose aim is to understand the determinants of cross‐country political concern for the ‘stability culture’. This expression describes an economic policy perspective based on the aims of providing price stability, fiscally disciplined budgets and rules and procedures that favour public expenditure ceilings. Our findings reveal that parties' commitment to the ‘stability culture’ is determined by their ideological background and by the national macroeconomic situation in the pre‐electoral year.