Does the expansionary government spending crowd out the private consumption?: Cointegration analysis in panel data
學年 94
學期 2
出版（發表）日期 2006-02-01
作品名稱 Does the expansionary government spending crowd out the private consumption?: Cointegration analysis in panel data
作品名稱（其他語言）
著者 聶建中; Nieh, Chien-chung; Ho, Tsung-wu
單位 淡江大學財務金融學系
出版者
著錄名稱、卷期、頁數 The Quarterly Review of Economics and Finance 46(1), p.133-148
摘要 That whether expansionary government spending crowds out private consumption is examined by evaluating the intra-temporal elasticity of substitution between them. Using annual data (1981–2000) of 23 OECD countries, a linear deterministic cointegration relation between private consumption, government spending and their relative price is supported. We have two findings: first, the panel estimators plausibly compute the parameter estimates in general. Second, when cross-sectional correlation is considered by using a SUR estimator, the statistical significance of panel cointegration is improved. Thirdly, the intra-temporal elasticity of substitution indicates that government and private consumption are found to be complements, which shows that expansionary government spending does not crowd out private consumption.
關鍵字 Panel cointegration;Two-step estimator;SUR;Intratemporal substitution
語言 en
ISSN
期刊性質 國外
收錄於 SSCI
產學合作
通訊作者
審稿制度 否
國別 NLD
公開徵稿
出版型式 ,電子版
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