Arbeitspapier
A Macromodel of Local Government Spending Behaviour in Norway
A cooperative bargaining model is adapted to the setting of local government in Norway. Aggregate consumption, the capital stock and net financial wealth in the local public sector are endogenized. The origin of intertia in the model is ascribed to incrementalism or adjustment costs in the disagreement points of the Nash solution. Using the method of ordinary least squares, the model is estimated on sample data for the period 1973-1991. Different hypotheses regarding the disagreement point formation are tested, and the pure incrementalist model is encompassed by a more general partial adjustment model, implying that some other mechanism than just preservation of the status quo is operative. It is found that local government consumption, the capital stock and the net debt in the long run are stabilized relative to disposable income. Finally, results form model simulations are reported.
- Sprache
-
Englisch
- Erschienen in
-
Series: Discussion Papers ; No. 117
- Klassifikation
-
Wirtschaft
Multiple or Simultaneous Equation Models: Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
State and Local Budget and Expenditures
State and Local Borrowing
- Thema
-
Local government
consumption
investment
dynamic specification.
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Langørgen, Audun
- Ereignis
-
Veröffentlichung
- (wer)
-
Statistics Norway, Research Department
- (wo)
-
Oslo
- (wann)
-
1994
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Langørgen, Audun
- Statistics Norway, Research Department
Entstanden
- 1994
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