Serletis, Apostolos; Shahmoradi, Asghar - In: Journal of Macroeconomics 32 (2010) 3, pp. 892-905
This paper takes a microeconomic- and aggregation-theoretic approach to the empirical analysis of the relationship between private and government consumption. It provides estimates of the Morishima elasticities of substitution based on an empirical comparison and evaluation of the effectiveness...