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    Please use this identifier to cite or link to this item: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/23764

    Title: Does the expansionary government spending crowd out the private consumption?: Cointegration analysis in panel data
    Authors: 聶建中;Nieh, Chien-chung;Ho, Tsung-wu
    Contributors: 淡江大學財務金融學系
    Keywords: Panel cointegration;Two-step estimator;SUR;Intratemporal substitution
    Date: 2006-01-01
    Issue Date: 2009-11-30 17:52:41 (UTC+8)
    Publisher: Elsevier
    Abstract: 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.
    Relation: Quarterly Review of Economics and Finance 46(1), pp.133-148
    DOI: 10.1016/j.qref.2004.11.004
    Appears in Collections:[財務金融學系暨研究所] 期刊論文

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