EASAW, J. and GARRATT, D., 2006. Impact of the UK general elections on total government expenditure cycles: theory and evidence. European Journal of Political Economy, 22, pp. 292-306.
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This paper presents a testable theoretical framework that extends the standard demand-side approach to modeling government expenditure on goods and services. The focus is on the adjustment of expenditure to disequilibria: we investigate whether the adjustment of UK exhaustive government expenditure between 1966 and 2002 to its long-run equilibrium path is symmetric. The evidence points to asymmetric adjustment to the demands of a representative voter over the election cycle but not between Labour and Conservative governments. Convergence to equilibrium is found to be faster during the later stages of each election cycle.
|Item Type:||Journal article|
|Publication Title:||European Journal of Political Economy|
|Creators:||Easaw, J. and Garratt, D.|
|Divisions:||Schools > Nottingham Business School|
|Depositing User:||EPrints Services|
|Date Added:||09 Oct 2015 10:17|
|Last Modified:||19 Oct 2015 14:30|
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