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| Author: | Anamo, R. Wirjanto, T. |
| Title: | Intratemporal substitution and government spending |
| Journal: | Review of Economics and Statistics
1997 : NOV, VOL. 79:4, p. 605-609 |
| Index terms: | STATISTICS ECONOMICS GOVERNMENT |
| Language: | eng |
| Abstract: | In this paper the authors examine the idea that a general model of consumption should allow for he direct effect of government expenditures in a two-good permanent - income model. They show , given an assumed preference specification, that there is a cointegration restriction implied by an intraperiod first-order condition of the model. This restriction leads to a linear deterministic cointegration relation between government spending, private consumption and their relative price that is supported by the data. |
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