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AFE6020-B Nordhaus Political Business Cycle Model Assignment Sample

Advanced Economics - Assignment 1 Explain the following models with the help of diagrams and examples. Opportunistic model Solution: As per the modern literature, the political business class as highlighted in the paper published by Nordhaus (1975) highlighted that the political parties who are in power choose those set of economic policies during the incumbency period which would eventually maximize the plurality in the coming e…

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