A panel cointegration approach to estimating substitution elasticities in consumption
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...
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| Veröffentlicht in: | Economic modelling 2010-05, Vol.27 (3), p.782-787 |
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| container_title | Economic modelling |
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| creator | Auteri, Monica Costantini, Mauro |
| description | 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. |
| doi_str_mv | 10.1016/j.econmod.2010.01.021 |
| format | Article |
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| ispartof | Economic modelling, 2010-05, Vol.27 (3), p.782-787 |
| issn | 0264-9993 1873-6122 |
| language | eng |
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| source | RePEc; Elsevier ScienceDirect Journals Complete |
| subjects | Cointegration Cointegration analysis Cointegration Government expenditure Intratemporal substitution Macroeconomic aspects of public finance Panel Unit root Consumption Correlation analysis Elasticity Elasticity of substitution Estimation Europe Government expenditure Government spending Intratemporal substitution Macroeconomic aspects of public finance Panel Public expenditure Studies Unit root |
| title | A panel cointegration approach to estimating substitution elasticities in consumption |
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