The Presidential Political Business Cycle of 1972

Previous studies of the political business cycle have examined time series data to determine whether a pattern of pre-election boom and post-election slump exists. The studies do not investigate the behavior and mechanisms by which a politician may effectuate a political business cycle. We focus on one time period, 1969 to 1972, and conclude that President Nixon's personality and operating environment explain why he manipulated the economy for political gain. The mechanisms he utilized to improve macroeconomic conditions before the 1972 election include monetary policy, fiscal policy, and wage-price controls.

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	May, Ann Mari Professor of Economics Expertise: Political Business Cycles Gender Specialist in Social Sciences Feminist Economics U.S. Economic History Women and Higher Education Economics CBA 349 P.O. Box 880489 University of Nebraska-Lincoln Lincoln, NE 68588-0489, USA Phone: (402) 472-3369 Fax: (402) 472-9700 amay1@unl.edu	May, Ann Mari	Economics