Hostname: page-component-586b7cd67f-t7czq Total loading time: 0 Render date: 2024-11-25T08:03:32.092Z Has data issue: false hasContentIssue false

Policy Punctuations in American Political Institutions

Published online by Cambridge University Press:  12 March 2003

Bryan D. Jones
Affiliation:
Donald R. Matthews Distinguished Professor of American Politics, Department of Political Science, University of Washington, Box 353530, Seattle, WA 98195 ([email protected]).
Tracy Sulkin
Affiliation:
Assistant Professor of Political Science and Speech Communication, University of Illinois at Urbana-Champaign, 702 S. Wright, Urbana, IL 61801 ([email protected]).
Heather A. Larsen
Affiliation:
Ph.D. student, Department of Political Science, University of Washington, Box 353530, Seattle, WA 98195 ([email protected]).

Abstract

Political institutions translate inputs—in the form of changed preferences, new participants, new information, or sudden attention to previously available information—into policy outputs. In the process they impose costs on this translation, and these costs increase institutional friction. We argue that the “friction” in political institutions leads not to consistent “gridlock” but to long periods of stasis interspersed with dramatic policy punctuations. As political institutions add costs to the translation of inputs into outputs, institutional friction will increase, and outputs from the process will become increasingly punctuated overall. We use a stochastic process approach to compare the extent of punctuations among 15 data sets that assess change in U.S. government budgets, in a variety of aspects of the public policy process, in election results, and in stock market returns in the United States. We find that all of these distributions display positive kurtosis—tall central peaks (representing considerable stability) and heavy tails (reflecting the punctuations, both positive and negative). When we order institutions according to the costs they impose on collective action, those with higher decision and transaction costs generate more positive kurtosis. Direct parameter estimates indicate that all distributions except budget data were best fit by the double-exponential probability distribution; budgets are Paretian.This project was funded by the Political Science Program of the National Science Foundation, Award SES9904700. We appreciate the support of Frank Scioli, the program officer, and various political science program directors. We benefited from comments by Frank Baumgartner, John Brehm, Chris Mackie, Peter John, John Padgett, Bat Sparrow, Jim True and John Wilkerson.

Type
Research Article
Copyright
© 2003 by the American Political Science Association

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Anscombe F. J. Glynn William J. 1983 Distribution of the Kurtosis Statistic b2 for Normal Samples Biometrika 70 227-34Google Scholar
Bak Per 1997 How Nature Works. New York Springer-Verlag
Balanda K. P. MacGillivray H. L. 1988 Kurtosis: A Critical Review American Statistician 42 111-19Google Scholar
Baumgartner Frank R. Jones Bryan D. 1993 Agendas and Instability in American Politics Chicago University of Chicago Press
Baumgartner Frank R. Jones Bryan D. Michael MacLeod 1998 Lessons from the Trenches: Quality, Reliability, and Usability in a New Data Source Political Methodologist 8 1-10Google Scholar
Bennett W. Lance. 1990 Toward a Theory of Press-State Relations in the United States Journal of Communication 40 103-25Google Scholar
Bish Robert 1973 The Public Economy of Metropolitan Areas Chicago Markham
Buchanan James M. Gordon Tullock 1962 The Calculus of Consent Ann Arbor University of Michigan Press
Campbell John Y. Andrew Lo MacKinlay A. Craig 1997 The Econometrics of Financial Markets Princeton N.J. Princeton University Press
Cootner Paul H. 1964 The Random Character of Stock Market Prices. Cambridge, MA MIT Press
deLeon Peter 1999 The Stage Approach to the Policy Process Theories of the Policy Process Paul Sabbatier Boulder, CO Westview
Company Dow-Jones and 1996 100 Years of Dow Data Chichopee, MA Dow–Jones
Fama Eugene F. 1970 Efficient Capital Markets: A review of Theory and Empirical Work The Journal of Finance 25 383-417Google Scholar
Finucan H. M. 1963 A Note on Kurtosis Journal of the Royal Statistical Society, Series B 26 111-12Google Scholar
Groeneveld Richard A. 1998 A Class of Quintile Measures for Kurtosis American Statistician 51 325-29Google Scholar
Hammond Thomas Miller Gary J. 1987 The Core of the Constitution American Political Science Review 81 1155-74Google Scholar
Hirshleifer David 1995 Social Influence, Fads, and Informational Cascades The New Economics of Human Behavior Mariano Tommasi Kathryn Ierulli Chicago University of Chicago Press
Jackson John E. 1990 Institutions in American Society Ann Arbor University of Michigan Press
Jones Bryan D. 1994 Reconceiving Decision-Making in Democratic Politics Chicago University of Chicago
Jones Bryan D. 2001 Politics and the Architecture of Choice Chicago University of Chicago Press
Jones Bryan D. Baumgartner Frank R. True James L. 1996 The Shape of Change: Punctuations and Stability in U.S. Budgeting, 1947–96. Presented at the Midwest Political Science Association, Chicago
King Gary 1997 Elections to the United States House of Representatives, 1898–1992. Ann Arbor Inter-University Consortium for Political and Social Research, University of Michigan. No. 6311
Kingdon John 1995 Agendas, Alternatives, and Public Policies 2nd ed. Boston Little, Brown
Kotz Samuel Saralees Nadarajah 2000 Extreme Value Distributions: Theory and Practice. London Imperial College Press
Krehbiel Keith 1998 Pivotal Politics: A Theory of U.S. Lawmaking. Chicago University of Chicago Press
Laherrere Jean Didier Sornette 1998 Stretched Exponential Distributions in Nature and Economy European Physical Journal B 2 525-39Google Scholar
Lux Thomas 1998 The Socio-Economic Dynamics of Speculative Markets Journal of Economic Behavior and Organization 33 143-65Google Scholar
Maikel Burton 1992 Efficient Market Thesis New Palgrave Dictionary of Money and Fianance P. Newman M. Milgate J. Eatwell London Macmillan
Mandelbrot Benoit 1964 The Variation of Certain Speculative Prices The Random Character of Stock Market Prices Paul H. Cootner Cambridge, MA MIT Press 307–32
Mandelbrot Benoit 1997 Fractals and Scaling in Finance New York Springer
Mandelbrot Benoit 1999 Multifractals and 1/f Noise New York Springer
Mayer Kenneth 2001 With the Stroke of a Pen: Executive Orders and Political Power Princeton, NJ Princeton University Press
Mills Terence C. 1995 Modelling Skewness and Kurtosis in the London Stock Exchange FT-SE Index Return Distributions Statistician 44 323-32Google Scholar
Moors J. J. A. 1988 A Quantile Alternative for Kurtosis Statistician 37 25-32Google Scholar
North Douglass 1990 Institutions, Institutional Change, and Economic Performance. New York Cambridge
Padgett John 1980 Bounded Rationality in Budget Research American Political Science Review 74 354-72Google Scholar
Padgett John 1981 Hierarchy and Ecological Control in Federal Budgetary Decision-Making American Journal of Sociology 87 75-128Google Scholar
Peters Edgar F. 1991 Chaos and Order in the Capital Markets New York John Wiley
Peters Edgar F. 1994 Fractal Market Analysis. New York John Wiley
Plott Charles Shyam Sunder 1982 Efficiency of Experimental Security Markets with Insider Information: An Application of Rational-Expectations Models Journal of Political Economy 90 663-98Google Scholar
Rundle John B. Turcotte Donald L. William Klein 1996 Reduction and Predictability of Natural Disasters Reading, MA Addison–Wesley
Schroeder Manfred 1991 Fractals, Chaos, Power Laws. New York Freeman
Shiller Robert J. 2000 Irrational Exuberance. Princeton, N.J. Princeton University Press
Shleifer Andrea 2000 Inefficient Markets. Oxford Oxford University Press
Simon Herbert A. 1996 The Sciences of the Artificial. 3rd ed. Cambridge, MA MIT Press
Sparrow Bartholomew H. 1996 From the Outside In: World War II and the American State Chicago University of Chicago Press
Sornette Didier 2000 Critical Phenomena in Natural Sciences . Berlin Springer
True James L. 1999 Attention, Inertia, and Equity in the Social Security Program Journal of Public Administration Research and Theory 9 571-96Google Scholar
True James L. Jones Bryan D. Baumgartner Frank R. 1999 Punctuated Equilibrium Theory Theories of the Policy Process Paul Sabbatier Boulder, Colo Westview
West Bruce J. Bill Deering 1995 The Lure of Modern Science. Singapore World Scientific
Submit a response

Comments

No Comments have been published for this article.