... to 2009. Findings Short‐run results indicate unidirectional causality from revenues to expenditures. Long‐run results indicate asymmetric responses by both revenues and expenditures to budgetary disequilibria. With respect to asymmetric adjustment, revenues respond only when the budget is improving...

...Christos Kollias; Suzanna‐Maria Paleologou Purpose The purpose of this paper is to investigate the relationship between growth, investment and military expenditure in the case of the European Union‐15. Design/methodology/approach The paper uses fixed panel models, random coefficient models...

..., or hours spent by individuals in accumulating human capital were introduced in the model. These aspects will be dealt with in the following sections. © Emerald Group Publishing Limited 2008 Human capital Economic growth Government Expenditure Education The understanding...

... ability to incorporate both I(0) and I(1) regressors. Findings The results reveal that real M2 aggregate, real expenditure components, exchange rate, and inflation rate are cointegrated for Malaysia, the Philippines, and Singapore. The statistical significance of real income components suggests...

.../value Generation of long‐run series as extensions of aggregate‐type data in the Consumer Expenditure Survey of the Bureau of Labor Statistics. Lawrence H. Officer can be contacted at: lofficer@uic.edu © Emerald Group Publishing Limited 2007 Consumer behaviour Expenditure Benchmarking...

...Huseyin Kalyoncu; Fatih Yucel Purpose The objective of this study is to examine the relationship between defense expenditure and economic growth for Turkey and Greece in the period of 1956‐2003 using yearly data. Design/methodology/approach The Engle‐Granger cointegration methodology...

...Chien‐Chiang Lee; Chun‐Ping Chang Purpose The purpose of this paper is to re‐examine the long‐run co‐movement and causal relationship between GDP and social security expenditures. Design/methodology/approach The paper uses panel data unit root tests and panel cointegration tests, as well...

...Christos Kollias; Susana‐Maria Paleologou Purpose The purpose of this paper is to investigate the revenue‐expenditure nexus in the case of the 15 members of the European Union. Design/methodology/approach The paper uses a VECM framework to determine the causal ordering between these two...

... are included in the sample are examined. The estimations are carried out using probability regressions and two‐part models in which it is assumed that health resources are exogenous. The results indicate that increases in public health expenditure improve both psychological and physical health...