Why Has US Policy Uncertainty Risen since 1960?
AbstractWe consider two classes of explanations for the rise in policy-related economic uncertainty in the United States since 1960. The first stresses growth in government spending, taxes, and regulation. A second stresses increased political polarization and its implications for the policymaking process and policy choices.
CitationBaker, Scott R., Nicholas Bloom, Brandice Canes-Wrone, Steven J. Davis, and Jonathan Rodden. 2014. "Why Has US Policy Uncertainty Risen since 1960?" American Economic Review, 104 (5): 56-60. DOI: 10.1257/aer.104.5.56
- D72 Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- E23 Macroeconomics: Production
- E52 Monetary Policy
- E61 Policy Objectives; Policy Designs and Consistency; Policy Coordination
- E62 Fiscal Policy
- H50 National Government Expenditures and Related Policies: General
- L51 Economics of Regulation