Counter-cyclical policy and political manipulation: An empirical analysis of Japanese government expenditures

Yoshito Funashima ()
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Yoshito Funashima: Aoyama Gakuin University

Economics Bulletin, 2012, vol. 32, issue 3, 1902-1913

Abstract: Distinguishing accurately pure macroeconomic stabilization policies from election-motivated manipulations might be a difficult task within the framework of regression analysis. This paper attempts to demonstrate that the simple introduction of frequency-domain perspective provides a direct means of identifying portions of underlying components of Japanese public expenditures. We find that public investment behaves counter-cyclically over the business cycle, and not only public investment but also public consumption is manipulated for the House of Councillors elections.

Keywords: public expenditures; frequency-domain perspective (search for similar items in EconPapers)
JEL-codes: D7 E6 (search for similar items in EconPapers)
Date: 2012-07-12
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ebl:ecbull:eb-12-00501

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