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Unformatted text preview: output and inflation. Democrats are more concerned with an output target while republicans are more concerned with inflation or money growth. Overall, this paper was very well put together and informative. It confirmed that political parties did have an effect on the business cycle but not to the degree that people had previously thought. This paper showed that the effect was much smaller, only about 1 percent spending fluctuations, than anybody thought before. This result was very important to the field of economics because it confirmed a theory many people believed but also argued over the severity of. It gave quantifiable data that showed exactly how much policy affected the economy and how much spending fluctuated under different political parties....
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This note was uploaded on 02/28/2011 for the course ECON 4999 taught by Professor Barry,poulson during the Fall '07 term at Colorado.
- Fall '07