Government Social Spending and GDP: has there been a change in social policy?
Government Social Spending (GSS) is made up of a very heterogeneous range of variables, monetary transfers for retirement or illness, unemployment benefits, family services, active labour market policies and health expenditure. We believe that each of these components is of enormous
importance to the economic development of a country. As has often been affirmed, however, GSS is one of the economic aggregates most sensitive to the ups and downs of economic growth. In moments of crisis, sharp cuts are almost immediate, and these may or may not be recovered when times are
good. In this article, we examine the sensitivity of GSS to the evolution of Gross Domestic Product (GDP) in order to reveal the relationship between the two.
Keywords: GDP; Government Social Spending; H53; I38; O57; changes in social policy; cointegration
Document Type: Research Article
Affiliations: 1: Analisis Economico, Zaragoza University, Zaragoza, Spain 2: Organización de Empresas, Zaragoza University, Zaragoza, Spain
Publication date: 01 August 2012
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