It depends on the type of paste.  As a substitute for white glue, most or all wallpaper glues and pastes should do a fine job.  But as a substitute for the home-made flour-based paper mâché paste, where children are getting drenched with the stuff, I'd stick with all-natural wallpaper paste.  Check the ingredients.  I would steer clear of paste meant for vinyl wallpaper.

There are many web sites that have recipes for paper mâché and wallpaper paste, just search for the term.  The traditional flour & water or boiled flour & water will take longer to dry, especially if you live where the humidity is high, and if you leave it outside to dry, bugs might just munch on it (I've had this happen).  You can dilute your PVA glue, too, to stretch it.

Samira,  I've used liquid starch before pretty successfully.  Maybe you could try that.

Kat

I am not sure but I  would think it would work.  I am pretty sure that we used flour and water when I was younger.

Wallpaper paste works fine, but can be harsh on hands. I prefer the glue and water (one to one) mixture. In addition, instead of dragging the paper through the mixture, I use a medium paint brush and paint the glue onto the balloon or form. Then I apply the paper in strips next to each other, brush on more glue/water mixture, and overlap the next set of strips. If done this way, the project is less messy, easier on young skin, and a quicker clean-up. Plus, the project tends to dry faster.