American Economic Review
ISSN 0002-8282 (Print) | ISSN 1944-7981 (Online)
Why Has US Policy Uncertainty Risen since 1960?
American Economic Review
vol. 104,
no. 5, May 2014
(pp. 56–60)
Abstract
We 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.Citation
Baker, 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.104.5.56Additional Materials
JEL Classification
- 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