Polityczny cykl koniunkturalny

Abstract

The concept of political business cycle was formulated in the mid-seventies and its popularity is due to its instrumental treatment as an argument in discussion on rightness of theoretical foundations of the Keynesian political economy. On the basis of accepted assumptions (and they are quite numerous) there is suggested the following course of a political business cycle: directly before elections the party at power produces an economic boom and bringing about a drop in unemployment rate it simultaneously accelerates inflation. Directly, after elections a drastic change in the economic policy takes place, which leads to gworth of unemployment but also to the curbing of inflation . The hypothesis about the political business cycle was verified on the basis of statistical data many times but all attempts at its vorification were unable to provide evidence that would be fully convincing and confirming it.