The Displacement Hypothesis and Government Spending in the United Kingdom: some new Long-Run Evidence

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The Displacement Hypothesis and Government Spending in the United Kingdom: some new Long-Run Evidence

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Henry, O.
Olekalns, N.

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Abstract

This paper presents new evidence on the ability of Peacock and Wiseman's displacement hypothesis to explain temporal increases in the ratio of government expenditure to GDP in the United Kingdom. Using univariate modelling techniques that are robust to structural changes in the underlying data generating process and a data set extending back to 1836, we find four instances where displacement may be said to have occurred.

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Paper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 750.

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Length: 17 pages
Date of creation: 2000
Date of revision:
Handle: RePEc:mlb:wpaper:750

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Find related papers by JEL classification:
E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
H50 - Public Economics - - National Government Expenditures and Related Policies - - - General

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