Public Choice

, Volume 142, Issue 3, pp 279–291

Do differences in presidential economic advisers matter?

Authors

Article

DOI: 10.1007/s11127-009-9549-1

Cite this article as:
Goff, B. Public Choice (2010) 142: 279. doi:10.1007/s11127-009-9549-1

Abstract

Using data on members on the Council of Economic Advisors as well as US Treasury secretaries and OMB directors from 1952 through 2005, I investigate the effect of economic advisors’ educational and employment backgrounds on the time series performance of several policy variables. Ivy League advisors appear to raise non-defense government spending, although the size of the impact differs by president. While voter preferences appear to matter for a wider variety of policy variables (changes in federal regulation and marginal tax rates), the share of Ivy League advisors is at least as important as voter preferences in explaining non-defense spending.

Economic policyPresidential advisers

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© Springer Science+Business Media, LLC 2009