Voracity effect and Wagner's law in the PIIGS
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F12%3A%230002147" target="_blank" >RIV/47813059:19520/12:#0002147 - isvavai.cz</a>
Result on the web
—
DOI - Digital Object Identifier
—
Alternative languages
Result language
angličtina
Original language name
Voracity effect and Wagner's law in the PIIGS
Original language description
The paper provides direct empirical evidence on cyclicality and the short-term and long-term relationship between government expenditure and output in the PIIGS (Portugal, Ireland, Italy, Greece, Spain) in a period 1990-2010. We follow Akitoby et al. andapply Johansen cointegration test and the error correction model on annul data of GDP and government expenditure in compliance with the COFOG international standard. The government expenditure functions are procyclical in most PIIGS countries (68% casesin the sample). Output and government expendi-ture are cointegrated for at least six of the expenditure categories in every country and it implies a long-term relationship between government expenditure and output consistent with Wagner's law. Average value of long-run elasticity coefficients is 1.30 for all expenditure functions and 1.17 for total government expenditure. The values of the coefficients for the short-run relationship between expenditure and output confirm the voracity.
Czech name
—
Czech description
—
Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
—
Result continuities
Project
<a href="/en/project/GAP403%2F11%2F2073" target="_blank" >GAP403/11/2073: Procyclicality of financial markets, asset price bubbles and macroprudential regulation</a><br>
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)
Others
Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the 30th International Conference on Mathematical Methods in Economics 2012
ISBN
978-80-7248-779-0
ISSN
—
e-ISSN
—
Number of pages
6
Pages from-to
854-859
Publisher name
Slezská univerzita v Opavě, Obchodně podnikatelská fakulta v Karviné
Place of publication
Karviná
Event location
Karviná
Event date
Jan 1, 2012
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
—