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Structural Breaks in Public Infrastructure Investment in the U.S

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Author Info
Alfredo M. Pereira () (Department of Economics, College of William and Mary)
Martin B. Schmidt () (Department of Economics, College of William and Mary)

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Abstract

In this paper we address empirically the issue of the possible structural breaks in the public infrastructure investment series with the objective of identifying the existence and determining the timing of such breaks. Both heuristic and more formal tests suggest that a break in the mean of public investment occurred in the late 1970s or early 1980s. This is true for public infrastructure investment at the aggregate level as well as for most types of public infrastructures. We regard this evidence as the first step in the process of revisiting the analysis of the effects of such infrastructure investments in a VAR approach accounting for the presence of structural breaks.

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File URL: http://www.wm.edu/economics/wp/cwm_wp55.pdf
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Publisher Info
Paper provided by Department of Economics, College of William and Mary in its series Working Papers with number 55.

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Length: 14 pages
Date of creation: 24 Aug 2007
Date of revision:
Handle: RePEc:cwm:wpaper:55

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Related research
Keywords: public investment infrastructure structural breaks VAR modeling

Find related papers by JEL classification:
C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
H54 - Public Economics - - National Government Expenditures and Related Policies - - - Infrastructures

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Serena Ng & Timothy Vogelsang, 2002. "Analysis Of Vector Autoregressions In The Presence Of Shifts In Mean," Econometric Reviews, Taylor and Francis Journals, vol. 21(3), pages 353-381. [Downloadable!] (restricted)
    Other versions:
  2. Christophe Kamps, 2004. "The Dynamic Effects of Public Capital: VAR Evidence for 22 OECD Countries," Kiel Working Papers 1224, Kiel Institute for the World Economy. [Downloadable!]
    Other versions:
  3. Alfredo M. Pereira & Jorge M. Andraz, 2004. "Public highway spending and state spillovers in the USA," Applied Economics Letters, Taylor and Francis Journals, vol. 11(12), pages 785-788, October. [Downloadable!] (restricted)
  4. Bai, Jushan & Lumsdaine, Robin L & Stock, James H, 1998. "Testing for and Dating Common Breaks in Multivariate Time Series," Review of Economic Studies, Blackwell Publishing, vol. 65(3), pages 395-432, July. [Downloadable!] (restricted)
  5. Jushan Bai & Pierre Perron, 2003. "Computation and analysis of multiple structural change models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(1), pages 1-22. [Downloadable!]
    Other versions:
  6. Andrews, Donald W K, 1993. "Tests for Parameter Instability and Structural Change with Unknown Change Point," Econometrica, Econometric Society, vol. 61(4), pages 821-56, July. [Downloadable!] (restricted)
    Other versions:
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Alfredo M. Pereira & Jorge M. Andraz, 2008. "On the Regional Incidence of Public Investment in Highways in the USA," Working Papers 70, Department of Economics, College of William and Mary. [Downloadable!]
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