Year: 2002
Author: Castronova, Edward
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 122 (2002), Iss. 3 : pp. 327–349
Abstract
This paper uses panel data on developed countries to estimate simultaneous equations models of social spending. The methods take advantage of some recent innovations in the growth literature involving the treatment of country-level panel data. Another contribution is to treat income risk as an endogenous variable, as suggested by the recent theoretical work of Hans-Werner Sinn. The results indicate that social spending is moderately related to aggregate income variability, and strongly related to the share of elderly and unemployed.
Journal Article Details
Publisher Name: Global Science Press
Language: Multiple languages
DOI: https://doi.org/10.3790/schm.122.3.327
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 122 (2002), Iss. 3 : pp. 327–349
Published online: 2002-03
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 23