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1996•Applied Economics LettersRequires access

Public expenditure and Private investment: a study of the UK and the USA

Mehdi Siamak MONADJEMI

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Abstract

The effect of fiscal measures on private investment is examined using variance decompositions derived from the error correction model. The empirical results of the study provide little support for the importance of fiscal measures in explaining variations of private investment. Output and profitability were the only two important variables in explaining forecast error variance of private investment in either country.

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The effect of fiscal measures on private investment is examined using variance decompositions derived from the error correction model. The empirical results of the study provide little support for the importance of fiscal measures in explaining variations of private investment. Output and profitability were the only two important variables in explaining forecast error variance of private investment in either country.

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Available abstract

The effect of fiscal measures on private investment is examined using variance decompositions derived from the error correction model. The empirical results of the study provide little support for the importance of fiscal measures in explaining variations of private investment. Output and profitability were the only two important variables in explaining forecast error variance of private investment in either country.

Key concepts: Investment (military), Economics, Profitability index, Variance (accounting), Econometrics, Empirical research, Forecast error, Error correction model

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