Public-sector organizations and the dynamics of public cash: evidence from data on public transactions

Barbara Mörec Peter Grajzl

European Journal of Comparative Economics, 2025, vol. 22, issue 2, 217 - 242

Abstract: We investigate interlinkages among public-sector organizations by studying the dynamics of public cash. Analyzing a comprehensive database of public-cash transactions in Slovenia, we construct weekly time series of cash sums disbursed by direct budget users (DBU), indirect budget users (IBU), and government-controlled private-law entities (GCPLE). Remarkably, the main originators of public-cash transactions are GCPLE. Using vector-autoregression, we find that cash transactions of each public-sector segment are self-perpetuating but, interestingly, covary to a limited extent. DBU transactions temporarily elevate, while GCPLE transactions permanently crowd out, IBU transactions. Shocks in DBU and IBU transactions drive GCPLE transactions during specific subperiods. Our paper offers a new empirical lens for understanding public-sector activity.

Keywords: Public cash; Public sector; Budget users; Private-law entities; Time series; Slovenia (search for similar items in EconPapers)
JEL-codes: C32 H11 H89 P16 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:liu:liucej:v:22:y:2025:i:2:p:217-242

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European Journal of Comparative Economics is currently edited by Matteo Migheli, Giovanni Ramello, Koji Domon, Peter Grajzl, David M. Kemme, Alessandro Melcarne, Marcello Signorelli and Richard Watt

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