XREAP2007-14
Table 3. Fiscal rule, (1) and (6): US, 1962-2000.
|
federal government |
panel of state governments___________ | |||
|
(1)_______ |
(6) |
(1)___________ |
(6)___________ | |
|
P |
0.08 |
0.08 |
0.10 |
0.08 |
|
(0.01) |
(0.01) |
(0.00) |
(0.00) | |
|
α |
0.08 |
-0.06 | ||
|
(0.35) |
(0.00) | |||
|
obs |
^38 |
38 |
1887 |
1887 |
|
R2 |
0.19 |
0.20 |
0.08 |
0.10 |
|
R2 within |
0.05 |
0.07 | ||
|
R2 between |
0.21 |
0.19 | ||
|
R2 overall |
0.08 |
0.10 | ||
|
Hausmann |
1059.31 |
1144.58 | ||
|
(0.00) |
(0.00) | |||
|
1967 |
1992 |
- |
- | |
|
AQ |
(0.08) |
(0.36) | ||
|
AP |
(0.03) |
(0.18) | ||
|
Bai |
1966 |
1994 | ||
|
(0.00) |
(0.00) | |||
|
[-;-] |
[-;-] | |||
Notes: heteroscedasticity and autocorrelation robust OLS
estimates; AQ and AP indicate the corrected Andrews Quandt
and Andrews Ploberger break date for the fiscal rule; the
breaktest of Bai is Bai (1997), with the 33% confidence
interval.
Table 4. Fiscal rules for government tiers, system estimates (3), German Lander, 1970-2005.
|
all 1970-2 |
Lander |
old 1970-2 |
Lander |
old |
Lander 990 |
old 1991-2 |
Lander >005 |
new 1991-2 |
Lander | |
|
P__ |
p-value |
P__ |
p-value |
P__ |
p-value |
P__ |
p-value |
P__ |
p-value | |
|
federal |
-0.01 |
(0.36) |
-0.01 |
(0.38) |
-0.06 |
(0.06) |
0.00 |
(0.88) |
0.00 |
(0.89) |
|
BE |
0.00 |
(0.00) |
0.00 |
(0.00) |
0.00 |
(0.01) |
0.00 |
(0.04) |
0.00 |
(0.04) |
|
BW |
0.00 |
(0.35) |
0.00 |
(0.34) |
0.00 |
(0.67) |
0.00 |
(0.24) | ||
|
BY |
0.00 |
(0.03) |
0.00 |
(0.03) |
0.00 |
(0.86) |
0.00 |
(0.49) | ||
|
HB |
0.00 |
(0.01) |
0.00 |
(0.01) |
0.00 |
(0.10) |
0.00 |
(0.87) | ||
|
HE |
0.00 |
(0.06) |
0.00 |
(0.06) |
0.00 |
(0.24) |
0.00 |
(0.14) | ||
|
HH |
0.00 |
(0.71) |
0.00 |
(0.71) |
0.00 |
(0.91) |
0.00 |
(0.23) | ||
|
NI |
0.00 |
(0.75) |
0.00 |
(0.76) |
0.00 |
(0.18) |
0.00 |
(0.01) | ||
|
NW |
0.00 |
(0.26) |
0.00 |
(0.26) |
0.00 |
(0.00) |
0.00 |
(0.00) | ||
|
RP |
0.00 |
(0.70) |
0.00 |
(0.71) |
0.00 |
(0.76) |
0.00 |
(0.00) | ||
|
SH |
0.00 |
(0.08) |
0.00 |
(0.08) |
0.00 |
(0.46) |
0.00 |
(0.10) | ||
|
SL |
0.00 |
(0.19) |
0.00 |
(0.19) |
0.00 |
(0.00) |
0.00 |
(0.04) | ||
|
BB |
0.00 |
(0.00) |
0.00 |
(0.00) | ||||||
|
MV |
0.00 |
(0.20) |
0.00 |
(0.12) | ||||||
|
SN |
0.00 |
(0.00) |
0.00 |
(0.00) | ||||||
|
ST |
0.00 |
(0.00) |
0.00 |
(0.00) | ||||||
|
TH |
0.00 |
(0.00) |
0.00 |
(0.00) | ||||||
|
sum |
0.01 |
(0.21) |
0.00 |
(0.29) |
0.00 |
(0.38) |
0.00 |
(0.20) |
0.01 |
(0.03) |
22