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Political stability and fiscal policy: time series evidence for the Swiss federal level since 1849

机译:政治稳定与财政政策:自1849年以来瑞士联邦层面的时间序列证据

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摘要

This paper explores the role of political stability on fiscal policy in a time-series analysis over 158 years at the Swiss federal level. We argue that the fiscal commons problem of public finances is affected by the number of years a finance minister remains in office, because the incentives for an incumbent to maintain a good reputation with sound policy decisions are stronger. A finance minister who succeeds to stay a long time in office enjoys a politically powerful position towards the administration, parliament and interest groups. In contrast, frequent government turnover weakens the position of the finance minister.
机译:本文在对瑞士联邦进行158年的时间序列分析后,探讨了政治稳定在财政政策中的作用。我们认为,公共财政的财政公地问题受财政部长任职年限的影响,因为在职者在合理的政策决策中保持良好声誉的动机更加强烈。能够长期任职的财政部长在行政,议会和利益集团方面享有政治上的强势地位。相反,频繁的政府更替会削弱财政部长的地位。

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