EconPol 56 2021January WORKING PAPER Vol.5 The Global Economic Impact of Politicians: Evidence from an International Survey RCT Dorine Boumans (EconPol Europe, ifo Institute), Klaus Gründler (EconPol Europe, ifo Insitute, University of Munich [LMU], CESifo), Niklas Potrafke (EconPol Europe, ifo Insitute, University of Munich [LMU], CESifo), Fabian Ruthardt (EconPol Europe, ifo Insitute, University of Munich [LMU]) headed by KOF Konjunkturforschungsstelle KOF Swiss Economic Institute EconPol WORKING PAPER A publication of EconPol Europe European Network of Economic and Fiscal Policy Research Publisher and distributor: ifo Institute Poschingerstr. 5, 81679 Munich, Germany Telephone +49 89 9224-0, Telefax +49 89 9224-1462, Email
[email protected] Editors: Mathias Dolls, Clemens Fuest Reproduction permitted only if source is stated and copy is sent to the ifo Institute. EconPol Europe: www.econpol.eu The Global Economic Impact of Politicians: Evidence from an International Survey RCT∗ Dorine Boumansa, Klaus Gründlera,b,c, Niklas Potrafke†a,b,c, and Fabian Ruthardta,b aifo Institute, Munich, bUniversity of Munich (LMU), cCESifo, Munich January 14, 2021 Abstract We use the US presidential election on 3 November 2020 to examine how the US president influences economic expectations of international experts. We de- sign a large-scale RCT among 843 experts working in 107 countries, asking about their expectations regarding GDP growth, unemployment, inflation, and trade in their country. The sample is split randomly in two subsamples. Half of the participants were surveyed closely before the election, the other half directly after Joe Biden had been called US president. Our results show that the election of Joe Biden increased growth expectations of international experts by 0.98 percentage points for the year 2021.