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Government consumption and private consumption correlations

Name: Government consumption and private consumption correlations
Creator: Jane Marrinan
Keywords: Government expenditure, risk sharing, consumption correlations, international real business cycles, consumption correlations, 0502 economics and business, 05 social sciences, jel:E32, Macroeconomics and International Economics, jel:F41, international real business cycles, government expenditure, risk sharing

descriptionPublicationkeyboard_double_arrow_right Article , Research , Preprint 01 Aug 1998 Spain English Publisher:Elsevier BVJournal:Journal of International Money and Finance, volume 17, pages 615-636 (issn: 0261-5606,

Authors: Jane Marrinan;

doi: 10.1016/s0261-5606(98)00021-7

handle: 10230/1038

Government consumption and private consumption correlations

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Abstract

Abstract This paper examines whether the introduction of government consumption expenditure in a standard one good model of the international real business cycle is sufficient to reconcile the theory with the existing pattern of international consumption and output correlations. It is shown that the model can account for existing international correlations only under specific assumptions about the size of effect of government expenditure on agents' utility or the variability of government expenditure shocks. Crucial parameters are identified and the sensitivity of the results discussed. © 1998 Elsevier Science Ltd. All rights reserved.

Country

Spain

Related Organizations

Universitat Pompeu Fabra
Spain

Keywords

Government expenditure, risk sharing, consumption correlations, international real business cycles, consumption correlations, Macroeconomics and International Economics, international real business cycles, government expenditure, risk sharing, jel: jel:E32, jel: jel:F41

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