The size of government in the G7 countries in the last fifty years follows a common pattern: it grows in the first three decades, then turns flat at the beginning of the nineties, for all countries alike. We highlight this common pattern in a dynamic factor model, and argue that a satisfactory explanation for it would be desirable.
Albanese, G., Modica, S. (2010). Co-movement of Public Spending in the G7. ECONOMICS LETTERS, 109, 121-123 [10.1016/j.econlet.2010.09.001].
Co-movement of Public Spending in the G7
MODICA, Salvatore
2010-01-01
Abstract
The size of government in the G7 countries in the last fifty years follows a common pattern: it grows in the first three decades, then turns flat at the beginning of the nineties, for all countries alike. We highlight this common pattern in a dynamic factor model, and argue that a satisfactory explanation for it would be desirable.
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