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Fiscal Policy: An implicit factor in the Trial-heat and Time-for-change models
Journal article

Fiscal Policy: An implicit factor in the Trial-heat and Time-for-change models

Alfred G. Cuzán
09/09/2005

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Abstract

When it comes to forecasting the incumbent share of the two-party vote in American presidential elections (VOTE2), Alan Abramowitz’s time-for-change model (henceforth TFC) and James E. Campbell’s trial-heat model (TH) rank among the best performers of what we call the Campbell Collection, named after the editor or co-editor of several symposia in which these models, along with others, appeared.2 In this essay we compare the TFC and TH models with the fiscal model, a newcomer to the forecasting sweepstakes, which took first prize in 2004, its July forecast coming within 0.1% of President Bush’s actual share of the two-party vote. With national and state-level presidential elections data, we show that the defining variable in this model, fiscal policy, appears to be an implicit factor in both the time-for-change and trial-heat models.
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