Public and private investments: Long-run asymmetric effects in France and the US

被引：3
|
作者：
Baussola, Maurizio [1 ]
Carvelli, Gianni [1 ]
机构：
[1] Univ Cattolica Sacro Cuore, Dipartimento Sci Econ & Sociali DiSES, Piacenza, Italy
来源：
FINANCE RESEARCH LETTERS | 2023年 / 58卷
关键词：
Asymmetric effects; Cointegration; NARDL; Public investments; Private investments; GOVERNMENT SPENDING SHOCKS; RETURN; RATES;
D O I：
10.1016/j.frl.2023.104317
中图分类号：
F8 [财政、金融];
学科分类号：
0202 ;
摘要：
We analyse whether private investments are impacted asymmetrically by public investments and how any asymmetry evolves over time. We conduct time series analyses for France and the US within a flexible empirical framework exploiting quarterly data over 1960Q1-2022Q4. The results are summarized as follows: France's private investments are positively impacted by public investments both in the short-and long-run; public investments have a neutral or negative effect on private investments in the US; the asymmetric effects in France become significant and persistent after 10 quarters; some evidence of asymmetry emerges for the US in the long-run.
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页数：12
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