Ideology and Dissent Among Economists: The Joint Economic Forecast of German Economic Research Institutes

18 Pages Posted: 24 Apr 2018

See all articles by Ha Quyen Ngo

Ha Quyen Ngo

affiliation not provided to SSRN

Niklas Potrafke

CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute

Marina Riem

CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute

Christoph Schinke

CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute

Date Written: January 2018

Abstract

Economists, and also economic research institutes, differ in their attitudes toward desirability of economic policies. The policy positions taken can often be determined by ideology. We examine economic policy positions by investigating minority votes in the Joint Economic Forecast of German economic research institutes. The data set consists of voting behavior over the period 1950–2014. Our results show that the German Institute for Economic Research (DIW Berlin) submitted by far the most minority votes, consistent with the popular impression that the DIW exhibits a preference for demand-oriented economic policy and has differed from other leading economic research institutes in this respect. For example, the rate of minority voting of the DIW corresponded to some 300 percent of the rate of minority voting of the RWI Essen. Minority votes display an economic research institute’s identity. When institutes are known to be associated with specific economic policy positions, politicians, clients, and voters well understand how to assess the bias in the policy advice that is given.

Keywords: decision making in committees, minority voting, policy preferences, ideology, Joint Economic Forecast of German economic research institutes

Suggested Citation

Quyen Ngo, Ha and Potrafke, Niklas and Riem, Marina and Schinke, Christoph, Ideology and Dissent Among Economists: The Joint Economic Forecast of German Economic Research Institutes (January 2018). Eastern Economic Journal, Vol. 44, Issue 1, 2018, Available at SSRN: https://ssrn.com/abstract=3160651 or http://dx.doi.org/10.1057/eej.2015.33

Ha Quyen Ngo (Contact Author)

affiliation not provided to SSRN

No Address Available

Niklas Potrafke

CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute ( email )

Poschinger Str. 5
Munich, 01069
Germany

Marina Riem

CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute ( email )

Poschinger Str. 5
Munich, 01069
Germany

Christoph Schinke

CESifo (Center for Economic Studies and Ifo Institute) - Ifo Institute ( email )

Poschinger Str. 5
Munich, 01069
Germany

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
0
Abstract Views
260
PlumX Metrics