Apergis, Nicholas; Payne, James E.; Saunoris, James W. - In: Journal of Economic Studies 39 (2012) 3, pp. 327-336
Purpose – The purpose of this paper is to examine the possibility of asymmetries in the budgetary adjustment process. Design/methodology/approach – The paper uses the TAR and MTAR models, set forth by Enders and Siklos, for the period 1957 to 2009. Findings – Short-run results indicate...