In contrast to previous empirical work on electoral cycles, which implicitly assumes the executive has full discretion over fiscal policy, this paper contends that under separation of powers an unaligned legislature may have a moderating role. Focusing on the budget surplus, we find that...

Primero usamos casos empíricos concretos para motivar la discusión de los ciclos electorales en política fiscal. Luego presentamos una revisión teórica y econométrica de la literatura. Teóricamente, los ciclos se pueden interpretar en términos de un problema de inconsistencia temporal...

The links between subnational political budget cycles (PBCs) and the national government in federal countries have seldom been studied. We study the behavior of the budget balance, public expenditures, and revenues in Argentine provinces during the 1985–2001 period. We find that in election...

In Latin America there is ample evidence of exchange rate depreciations after elections. Hence, we turn to the behavior of international reserves over the 1980–2005 period to investigate if exchange rates are temporarily stabilized before elections. Using annual, quarterly, and monthly data to...

This paper analyzes agricultural policy in Argentina and calculates the degree of support received by producers and consumers. We present a summary of developments in the agricultural policy environment that have occurred in the last decades in Argentina, as well as the resulting performance of...

While existing cross-country studies on political budget cycles rely on annual data, we build a panel with quarterly and monthly data from Latin American and OECD countries over the 1980-2005 period. Disaggregated data allow to center the electoral year more precisely, and show the effects are...

This paper presents evidence of electoraly-motivated changes in the budget balance, public expenditures, composition of public expenditures and provincial revenues in Argentine provinces. The empirical study is made using panel data analysis for 22 provinces during the period 1985-2001....