This paper investigates the relationship between government spending and private consumption. The general framework is a cointegration approach of Ogaki (1992) used to estimate the intratemporal elasticity of substitution between government and private consumption in a panel of 15 European countries. Recently developed non-stationary panel methodologies that assume cross-section dependence are applied. Results indicate an Edgeworth substitutability between private and public spending. (C) 2010 Elsevier B.V. All rights reserved.
|Titolo:||A panel cointegration approach to estimating substitution elasticities in consumption|
|Autori interni:||AUTERI, MONICA|
|Data di pubblicazione:||2010|
|Appare nelle tipologie:||1.1 Articolo in rivista|