Autor: |
Holmes, Mark J. |
Předmět: |
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Zdroj: |
Economic Analysis & Policy; 2010, Vol. 40 Issue 3, p369-376, 8p |
Abstrakt: |
The study provides new evidence on the sustainability debate concerning the US budget balance. Existing studies are often only able to reject non-cointegration between government expenditure and revenue once structural breaks or regime changes are allowed for. Using a testing procedure advocated by Bierens, this study provides a different perspective on this issue. Government expenditure and revenue are both found to be stationary around a nonlinear deterministic trend, and they are co-trended insofar as they share a common nonlinear deterministic trend. [ABSTRACT FROM AUTHOR] |
Databáze: |
Supplemental Index |
Externí odkaz: |
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