We provide new evidence on the short-run effect of elections on monetary aggregates. We study month-to-month fluctuations in the growth rate of M1 in a sample of 85 low and middle income democracies from 1975 to 2009. The evidence shows an increase in the growth rate of M1 during election months...

We document a remarkable increase over the past two and a half decades in the fraction of people in England feeling close to no party - the rise of the "no party" - which, today, is close to constituting an absolute majority. We develop a new method to distinguish between age, period, and cohort...

We study the short-run effect of elections on monetary aggregates in a sample of 85 low and middle income democracies (1975 - 2009). We find an increase in the growth rate of M1 during election months of about one tenth of a standard deviation. A similar effect can neither be detected in...

We analyze a psychologically-based model of voter turnout in an election with common value and uncertainty. Our model yields distinctive comparative statics results. First, an increase in the proportion of informed citizens may cause the winning margin for the right candidate to either rise or...

We study the opportunistic political budget cycle in the London Metropolitan Boroughs between 1902 and 1937 under two different suffrage regimes: taxpayer suffrage (1902-1914) and universal suffrage (1921-1937). We argue and find supporting evidence that the political budget cycle operates...