CFDP 2279

Retrospective Voting Versus Risk-Aversion Voting


Publication Date: March 2021

Pages: 11


According to retrospective voting a bad economy hurts the incumbent party and vice versa. According to risk-aversion voting a bad economy favors the Democrats over the Republicans and vice versa. This paper provides a test of both theories and rejects risk-aversion voting.

Keywords: Retrospective voting, Risk-aversion voting

JEL Classification Codes: E00

JEL Classification Codes: E00

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