The Displacement Hypothesis and Government Spending in the United Kingdom: some new Long-Run Evidence

Ólan Henry and Nilss Olekalns ()

No 750, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: This paper presents new evidence on the ability of Peacock and Wiseman's displacement hypothesis to explain temporal increases in the ratio of government expenditure to GDP in the United Kingdom. Using univariate modelling techniques that are robust to structural changes in the underlying data generating process and a data set extending back to 1836, we find four instances where displacement may be said to have occurred.

Keywords: FISCAL POLICY; PUBLIC EXPENDITURES (search for similar items in EconPapers)
JEL-codes: E62 H50 (search for similar items in EconPapers)
Pages: 17 pages
Date: 2000
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