Autor:	Holmes, Mark J.
Předmět:	UNITED States federal budget PUBLIC spending GOVERNMENT revenue ECONOMIC trends
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:	Zobrazit plný text záznamu Full Text from ScienceDirect