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@article{ Mink2006,
 title = {Are there Political Budget Cycles in the Euro Area?},
 author = {Mink, Mark and Haan, Jakob de},
 journal = {European Union Politics},
 number = {2},
 pages = {191-211},
 volume = {7},
 year = {2006},
 doi = {https://doi.org/10.1177/1465116506063706},
 urn = {https://nbn-resolving.org/urn:nbn:de:0168-ssoar-228983},
 abstract = {This article examines whether there is a political budget cycle (PBC) in countries in the euro area. Using a multivari ate model for 1999–2004 and various election indicators we find strong evidence that, since the start of the Stability and Growth Pact, fiscal policy-makers in the euro area have pursued expansionary policies before elections. In an election year – but not in the year prior to the election – the budget deficit increases. This result is in line with third-generation PBC models, which are based on moral hazard. We also find a significant but small partisan effect on fiscal policy outcomes.},
}