n the last years of Bill Clinton’s presidency, Democrats were more optimistic about the economy than Republicans. Immediately following George W. Bush’s win over Al Gore in the 2000 election, in contrast, the Republicans became more optimistic, as this chart shows.
This pattern has become even stronger in recent years, according to Yosef Bonaparte, one of the study’s co-authors. Bonaparte is a finance professor at the University of Colorado Denver and program director of the J.P Morgan Center for Commodities. In yet-unpublished research, he told me in an interview, he found that Republicans exhibited a dramatic 26% increase in risk tolerance after President Trump was elected. Democrats, in contrast, experienced a 10% decline.
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