234
Views
3
CrossRef citations to date
0
Altmetric
Original Articles

The intertemporal relation between government revenue and expenditure in the United Kingdom, 1750 to 2004

&
Pages 2321-2333 | Published online: 20 Apr 2011

References

  • Ahmed , S and Rogers , JH . 1995 . Government budget deficits and trade deficits: are present value constraints satisfied in long-term data? . Journal of Monetary Economics , 36 : 351 – 74 .
  • Baghestani , H and McNown , R . 1994 . Do revenues or expenditures respond to budgetary disequilibria? . Southern Economic Journal , 60 : 24 – 31 .
  • Baldé , T and Rodríguez , G . 2005 . Finite sample effects of additive outliers on the Granger-causality test with an application to money growth and inflation in Peru . Applied Economics Letters , 12 : 841 – 4 .
  • Barro , RJ . 1979 . On the determination of government debt . Journal of Political Economy , 81 : 940 – 71 .
  • Barro , RJ . 1987 . Government spending, interest rates, prices, and budget deficits in the United Kingdom, 1701–1918 . Journal of Monetary Economics , 20 : 221 – 47 .
  • Bauer , D and Maynard , A . 2010 . Persistence-robust surplus-lag granger causality testing Working Papers 1011, University of Guelph, Department of Economics, Canada. Available at http://www.economics.uoguelph.ca/Research/DisPapers/2010_11.pdf (accessed 9 April 2011)
  • Buchanan , JM and Wagner , RE . 1977 . Democracy in Deficit: The Political Legacy of Lord Keynes , New York : Academic Press .
  • Chang , T , Liu , WR and Caudill , SB . 2002 . Tax-and-spend, spend-and-tax, or fiscal synchronization: new evidence for ten countries . Applied Economics , 34 : 1553 – 61 .
  • Clark , T and Dilnot , A . 2002 . Long-term Trends in British Taxation and Spending , Briefing Note 25 London : Institute of Fiscal Studies .
  • Dickey , DA and Fuller , WA . 1979 . Distribution of the estimators for autoregressive time series with a unit root . Journal of the American Statistical Association , 74 : 427 – 31 .
  • Dolado , JJ and Lütkepohl , H . 1996 . Making Wald tests work for cointegrated VAR systems . Econometric Reviews , 154 : 369 – 86 .
  • Elliot , G , Rothenberg , TJ and Stock , JH . 1996 . Efficient tests for an autoregressive unit root . Econometrica , 4 : 813 – 36 .
  • Emmersen , C , Frayne , C and Love , S . 2003 . A Survey of Public Spending in the UK , Briefing Note Number 43 London : Institute for Fiscal Studies .
  • Engle , RF and Granger , CWJ . 1987 . Cointegration and error correction: representation, estimation and testing . Econometrica , 55 : 251 – 76 .
  • Friedman , M . 1978 . The limitations of tax limitation . Policy Review , 5 : 7 – 14 .
  • Friedman , M . 2003 . What every American wants Wall Street Journal (15 January)
  • Glynn , J and Perera , N . 2007 . Unit root tests and structural breaks: a survey with applications . Journal of Quantitative Methods for Economics and Business Administration , 3 : 63 – 79 .
  • Gregory , AW and Hansen , BE . 1996a . Residual based tests for cointegration with regime shifts . Journal of Econometrics , 70 : 251 – 76 .
  • Gregory , AW and Hansen , BE . 1996b . Test for cointegration in models with regime and trend shifts . Oxford Bulletin of Economics and Statistics , 58 : 555 – 60 .
  • Hasan , M and Lincoln , I . 1997 . Tax then spend or spend then tax? Experience in the UK, 1961–1993 . Applied Economics Letters , 4 : 237 – 9 .
  • Johansen , S . 1988 . Statistical analysis of cointegrating vectors . Journal of Economic Dynamics and Control , 12 : 231 – 54 .
  • Johansen , S . 1991 . Estimation and hypothesis testing of cointegrating vectors in Gaussian vector autoregressive models . Econometrica , 59 : 1551 – 80 .
  • Johansen , S . 1995 . Likelihood-Based Inference in Cointegrated Vector Autoregressive Models , Oxford : Oxford University Press .
  • Johansen , S , Mosconi , R and Nielsen , B . 2000 . Cointegration analysis in the presence of structural breaks in the deterministic trend . Econometrics Journal , 3 : 216 – 49 .
  • Joulfaian , D and Mookerjee , R . 1991 . Dynamics of government revenues and expenditures in industrial economies . Applied Economics , 23 : 1839 – 44 .
  • Koren , S and Stiassny , A . 1998 . Tax and spend, or spend and tax? An international study . Journal of Policy Modeling , 20 : 127 – 49 .
  • Lanne , M , Lütkepohl , H and Saikkonen , P . 2002 . Comparison of unit root tests for time series with level shifts . Journal of Time Series Analysis , 23 : 667 – 85 .
  • Lee , J and Strazicich , MC . 2003 . Minimum Lagrange Multiplier unit root test with structural breaks . Review of Economics and Statistics , 85 : 1082 – 9 .
  • Lee , J and Strazicich , MC . 2004 . Minimum LM unit root test with one structural break Appalachian State University Working Paper No. 04-17, Department of Economics
  • Lütkepohl , H . 1991 . Introduction to Multiple Time Series Analysis , Berlin : Springer-Verlag .
  • Lütkepohl , H , Saikkonen , P and Trenkler , C . 2003 . Comparison of tests for the cointegrating rank of a VAR process with a structural shift . Journal of Econometrics , 112 : 201 – 29 .
  • Meltzer , AH and Richard , SF . 1981 . A rational theory of the size of government . Journal of Political Economy , 89 : 914 – 27 .
  • Mitchell , BR . 1988 . British Historical Statistics , Cambridge : Cambridge University Press .
  • Musgrave , R . 1966 . “ Principles of budget determination ” . In Public Finance: Selected Readings , Edited by: Cameron , HA and Henderson , W . 15 – 27 . New York : Random House .
  • Nunes , LC , Newbold , P and Kaun , C-M . 1997 . Testing for unit roots with breaks: evidence on the great crash and the unit root hypothesis reconsidered . Oxford Bulletin of Economics and Statistics , 59 : 435 – 48 .
  • O’Donoghue , J , Goulding , L and Allen , G . 2004 . Consumer price inflation since 1750 . Economic Trends , 604 : 38 – 45 .
  • Owoye , O . 1995 . The causal relationship between taxes and expenditures in the G7 countries: cointegration and error correction models . Applied Economics Letters , 2 : 19 – 22 .
  • Payne , JE . 2003 . A survey of the international empirical evidence on the tax-spend debate . Public Finance Review , 31 : 302 – 24 .
  • Peacock , AT and Wiseman , J . 1961 . The Growth of Public Expenditure in the United Kingdom , Princeton, NJ : Princeton University Press .
  • Peacock , AT and Wiseman , J . 1979 . Approaches to the analysis of government expenditure growth . Public Finance Quarterly , 7 : 3 – 23 .
  • Perron , P . 1989 . The great crash, the oil price shock and the unit root hypothesis . Econometrica , 57 : 1361 – 401 .
  • Perron , P . 2006 . “ Dealing with structural breaks ” . In Handbook of Econometrics , Edited by: Mills , TC and Patterson , K . Vol. 1 , 278 – 352 . London : Palgrave Macmillan .
  • Phillips , PCB and Perron , P . 1988 . Testing for a unit root in time series regression . Biometrika , 75 : 335 – 46 .
  • Quintos , CE . 1995 . Sustainability of the deficit process with structural shifts . Journal of Business and Economic Statistics , 13 : 409 – 17 .
  • Ram , R . 1988 . A multicountry perspective on causality between government revenue and government expenditure . Public Finance , 43 : 261 – 70 .
  • Said , SE and Dickey , DA . 1984 . Testing for unit roots in autoregressive-moving average models of unknown order . Biometrika , 71 : 2599 – 607 .
  • Saikkonen , P and Lütkepohl , H . 2000a . Testing for the cointegrating rank of a VAR process with an intercept . Econometric Theory , 16 : 373 – 406 .
  • Saikkonen , P and Lütkepohl , H . 2000b . Testing for the cointegrating rank of a VAR process with structural shifts . Journal of Business and Economic Statistics , 18 : 451 – 64 .
  • Saikkonen , P and Lütkepohl , H . 2000c . Trend adjustment prior to testing for the cointegrating rank of a vector autoregressive process . Journal of Time Series Analysis , 21 : 435 – 56 .
  • Saikkonen , P and Lütkepohl , H . 2001 . Testing for unit roots in time series with level shifts . Allgemeines Statistisches Archiv , 85 : 1 – 25 .
  • Saikkonen , P and Lütkepohl , H . 2002 . Testing for a unit root in a time series with level shift at unknown time . Econometric Theory , 18 : 313 – 48 .
  • Wildavsky , A . 1988 . The New Politics of the Budgetary Process , Foresman, Glenview, IL : Scott .
  • Zivot , E and Andrews , DWK . 1992 . Further evidence of the great crash, the oil price shock and the unit root hypothesis . Journal of Business and Economics Statistics , 10 : 251 – 70 .

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.