Gasto público y consumo privado en España¿sustitutivos o complementarios?
- Mariam Camarero
- Vicente Esteve
- Cecilio R. Tamarit
Année de publication: 1997
Número: 7
Type: Working Paper
Résumé
The purpose of this paper is to estimate a stochastic-intertemporal model of effective consumption. Our main emphasis is on assesing whether there is a significant relationship (substitutability or complementarity) between goverment expenditure (comsumption and investment) and private consumption in Spain. We estimate the relationship between the two types of expenditure under both cointegration and non-cointegration assumptions using Spanish data over the period 1964-1995.