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

  • Cecilio R. Tamarit Escalona


    (Universitat de València)

  • Vicente Esteve Garcia


    (Universitat de València)

  • Maria Amparo Camarero Olivas

    (Universitat Jaume I)

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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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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