Score contribution per author:
α: calibrated so average coauthorship-adjusted count equals average raw count
This paper shows that the 'Frey-Schneider-Schultz hypothesis'--that there is a negative relation between the government's popularity and the government's incentives to engineer political business cycles--is consistent with rational, forward-looking voting provided one makes appropriate assumptions about the incumbent's preferences. The empirical part of the paper presents evidence favorable to the hypothesis using quarterly data on U.S. money growth. Copyright 1997 by Kluwer Academic Publishers