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- Title
Don't Worry About the Election.
- Authors
Beyer, Scott B.; Jensen, Gerald R.; Johnson, Robert R.
- Abstract
The article refers to studies on the effect of politics on economic conditions in the United States and analyzes the relationship of security returns to political and monetary conditions. Standard difference-in-means tests are used to evaluate relationships between investment returns and the party of the president, political gridlock, and monetary conditions. Regression analysis--focused on fixed-income indexes, the rate of inflation, and equity indexes--examines variables related to the party of the president, monetary policy of the Federal Reserve, and conditions of political gridlock or political harmony. Statistics show returns for the S&P 500, small-capitalization stocks, corporate bonds, and Treasury Bills under Democratic and Republican administrations for 1926 to 2000.
- Subjects
UNITED States; UNITED States economy; MONETARY policy; REPUBLICAN Party (U.S. : 1854- ); DEMOCRATIC Party (U.S.); EFFECT of inflation on investments; RATE of return; ECONOMICS
- Publication
Journal of Portfolio Management, 2004, Vol 30, Issue 4, p101
- ISSN
0095-4918
- Publication type
Article
- DOI
10.3905/jpm.2004.101