The long-run relationship between private and public savings: An empirical note |
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Authors: | Abir Mandal James E Payne |
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Institution: | 1.Department of Economics at Illinois State University,USA;2.Department of Economics,Illinois State University,Normal |
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Abstract: | This empirical note extends the recent work by Holmes (2006) in examining the long-run relationship between private and public
savings in the U.S. over the post-World War II period. Standard Engle-Granger cointegration tests fail to reject the null
hypothesis of no cointegration; however, once allowance is made for an endogenous break in the cointegrating relationship,
the weak form of the Ricardian equivalence proposition is supported. |
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Keywords: | |
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