摘要：This paper investigates whether private nondurable consumption is affected by changes in government spending, taking into account that private consumption can respond to predicted changes in current income. Using annual data from 1970 to 2003, results suggest that private consumption is not affected by anticipated changes in government spending, but it is affected by anticipated changes in income. Finally, the results indicate that private consumption and government spending are neither substitute or complementary and there is evidence of excess sensitivity to income.
其他摘要：This paper investigates whether private nondurable consumption is affected by changes in government spending, taking into account that private consumption can respond to predicted changes in current income. Using annual data from 1970 to 2003, results suggest that private consumption is not affected by anticipated changes in government spending, but it is affected by anticipated changes in income. Finally, the results indicate that private consumption and government spending are neither substitute or complementary and there is evidence of excess sensitivity to income.
关键词：Consumo Privado;Gasto do Governo;Substitutos;Complementares;Renda Corrente.;Consumo Privado;Gasto do Governo;Substitutos;Complementares;Renda Corrente
其他关键词：Consumo Privado; Gasto do Governo; Substitutos; Complementares; Renda Corrente.
