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
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