durable spending. Possible channels for these effects include more optimistic macroeconomic expectations and higher trust in …

breaks, the study finds evidence of a cointegration relation between the government revenues and spending. The results did … difficulties in financing its debts in the long run. Lastly, the short run and long run Granger causality results, while providing …

-GLS and PP unit root tests which indicated that the series are I(1). We find a cointegration relationship between government … revenue and government expenditure. The causality tests indicate that there is a bidirectional causal relationship between …

According to the expectations channel, a fiscal consolidation may give rise to less contractionary, or even … design a laboratory experiment to study the conditions under which the expectations channel operates. Our results indicate … consumption, which supports the expectations channel. We also find that the expectations channel is more pronounced if the fiscal …

using laboratory experiments. A purely rational choice perspective of a simple voting environment implies that information … expense of voters. I contrast the rational choice perspective to behavioral considerations of trust, betrayal and expectations …

This paper uses experiments to explore electoral accountability in a legislative system that favors seniority. Voters …

of panel unit root and Pedroni test of panel cointegration. The tests are applied to the relationships, in terms of GDP …