Fiscal Policy, Government Ideology, and Economic Activity: Evidence from OECD Countries
研究了政府意识形态和选举时机如何影响政府支出冲击及其乘数效应，发现政治极化程度高和成熟民主国家的支出乘数较小。
Abstract This study explores the role played by a country's political environment in the origin and effect of government spending. Using a rich data set that contains time‐varying ideological party positions, I show that both government ideology and the timing of elections are key determinants of government spending shocks and Granger‐cause government spending shocks estimated from traditional structural vector autoregressive (SVAR) models that ignore political considerations. I find that the magnitude of the spending multiplier depends on the political context: highly polarized countries have smaller multipliers relative to countries with a low degree of polarization, and established democracies have smaller multipliers than younger democracies.