Product Description
by Gerald T. Fox (Author)
This book considers the interrelation among macroeconomic politics, macroeconomic policymakers, macroeconomic policies, and macroeconomic perform ance. This interaction is examined using the expectational Phillips curve model, which measures macroeconomic outcomes in terms of inflation and unemployment. The subject of macroeconomic politics mainly focuses on voter behavior, presidential re-election ambition, and political party priorities. These political factors influence the macroeconomic policy actions of the president, Congress, and the central bank; the analysis takes into account both fiscal and monetary policies. The author's examination of citizen sentiment is based on rational voter theory and the median voter model. He compares the effects of macroeconomic farsightedness versus shortsightedness in voters and contrasts the conservative versus liberal perspectives on macroeconomic policy and performance. The empirical component of the analysis examines the electoral and partisan political business cycle effects upon the U.S. economy, and evidence of idiosyncratic effects during the time frame of 1961-2014 is found. Finally, the author discusses macroeconomic influence on various measures of voter sentiment, such as presidential job approval, and presidential and congressional election outcomes.
Author Biography
Gerald T. Fox received his PhD in economics from the University of Utah. He completed his undergraduate degree in economics at Brigham Young University. Professor Fox teaches economics at High Point University. His research interests include political macroeconomics, regional economic analysis, and globalism. He has published research in the Journal of Conflict Resolution, Applied Research in Economic Development, and the Journal of Macroeconomics. He has also coauthored a major economic impact study on the furniture industry in North Carolina. He has presented research at numerous academic conferences. Dr. Fox speaks Japanese and travels to Japan in the summers. He has worked in the Philippines, Japan, Poland, France, and England. He was a visiting professor at the University of Warsaw in Poland. He has also served as Faculty-in- Residence at the University of Winchester in Winchester, UK.
