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Gasto público y consumo privado en España: ¿sustitutivos o complementarios?

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Author Info

  • Cecilio R. Tamarit Escalona

    ()
    (Universitat de València)

  • Vicente Esteve Garcia

    ()
    (Universitat de València)

  • Maria Amparo Camarero Olivas

    (Universitat Jaume I)

Abstract

The purpose of this paper is to estimate a stochastic-intertemporal model of effective consumption. Our main emphasis is on assessing whether there is a significant relationship (substitutability or complementarity) between government expenditure (consumption 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. El propósito del trabajo es la estimación de un modelo estocástico intertemporal del consumo efectivo. El principal objetivo es examinar si existe una relación significativa (sustituibilidad o complementariedad) entre el gasto público (consumo e inversión) y el consumo privado en España. Para ello se deducen las ecuaciones a estimar bajo la hipótesis de cointegración y de ausencia de la misma entre los dos tipos de gasto. Finalmente, este modelo se aplica a datos de la economía española para el período 1964-1995.

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File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-1997-07.pdf
File Function: Fisrt version / Primera version, 1997
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 1997-07.

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Length: 48 pages
Date of creation: Sep 1997
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:1997-07

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Related research

Keywords: Política fiscal; gasto público; consumo privado; cointegración Fiscal policy; government expenditure; private consumption; cointegration;

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Cited by:
  1. Vicente Esteve & Juan Sanchis-Llopis, 2005. "Estimating the substitutability between private and public consumption: the case of Spain, 1960-2003," Applied Economics, Taylor & Francis Journals, vol. 37(20), pages 2327-2334.
  2. Etsuro Shioji & José García-Montalvo, 1997. "Monetary policy transmission in the EMS: A VAR approach," Working Papers. Serie EC 1997-11, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  3. Vicente Esteve & Juan Sanchis, . "Estimating the substitutability between private and public consumption: the case of Spain, 1960- 2001," Studies on the Spanish Economy 161, FEDEA.

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