Efeitos do gasto do governo sobre o consumo privadoevidências de países desenvolvidos e em desenvolvimento

Resumo

Recently, the effects of government spending on private consumption have beenanalyzed through macroeconomic models in which a fraction of agents smooth their intertemporal consumption while the others, the credit constrained ones, consume based on its disposable income. Under this approach, we argue that there is a cointegration relation between private consumption, government spending, and disposable income that allows us to analyze whether government spending crowds in or crowds out private consumption. We estimated this relation for 48 countries using panel error-correction models accounting for common factors and, under the hypothesis that the developing countries have a higher fraction of non-optimizing agents, we analyzed the existence of different effects on developed and developing countries. The results show that government spending crowds in the private consumption in the long run and that the effects are larger in developing countries relatively to developed countries.

Ficha do documento

Tipo

Artigo científico

Ano

2016

Instituição

Universidade de São Paulo. Faculdade de Economia, Administração, Contabilidade e Atuária

Fonte

Estudos Econômicos

Idioma

Português

Acesso

Não informado

DOI

10.1590/0101-416146151gfs

Identificador

oai:revistas.usp.br:article/85824

Licença

http://creativecommons.org/licenses/by-nc/4.0

Palavras-chave

private consumptiongovernment consumptionpanel cointegrationdeveloped countriesdeveloping countriesConsumo PrivadoGastos do GovernoCointegração em PainelPaíses DesenvolvidosPaíses em Desenvolvimento