教師資料查詢 | 類別: 期刊論文 | 教師: 聶建中 NIEH, CHIEN-CHUNG (瀏覽個人網頁)

標題:Does the expansionary government spending crowd out the private consumption?: Cointegration analysis in panel data
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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
語言英文
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期刊性質國外
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產學合作
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國別荷蘭
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