The Displacement Hypothesis and Government Spending in the United Kingdom: Some New Long-Run Evidence

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    Author
    Henry, Olan; OLEKALNS, NILSS
    Date
    2000-06
    University of Melbourne Author/s
    HENRY, OLAN; Olekalns, Nilss
    Affiliation
    Economics and Commerce: Department of Economics
    Metadata
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    Document Type
    Preprint
    Citations
    Henry, Olan and Olekalns, Nilss (2000) The Displacement Hypothesis and Government Spending in the United Kingdom: Some New Long-Run Evidence.
    Access Status
    Open Access
    URI
    http://hdl.handle.net/11343/33649
    Abstract
    This paper presents new evidence on the ability of Peacock and Wiseman'sdisplacement hypothesis to explain temporal increases in the ratio ofgovernment expenditure to GDP in the United Kingdom. Using univariatemodelling techniques that are robust to structural changes in the underlyingdata generating process and a data set extending back to 1836, we find fourinstances where displacement may be said to have occurred.
    Keywords
    displacement hypothesis; government expenditure; structural breaks; JEL classification numbers: E62 fiscal policy; public expenditures; investment; and finance; taxation; H50 national government rexpenditures and related policies

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