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What do we really know about fiscal sustainability in the EU ? A panel data diagnostic *
| Content Provider | Semantic Scholar |
|---|---|
| Author | Afonso, António Rault, Christophe |
| Copyright Year | 2007 |
| Abstract | We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee and Carrion-i-Silvestre (2006) and Westerlund and Edgerton (2007), to a structural long-run equation between general government expenditures and revenues. While estimations point to fiscal sustainability being an issue in some countries, fiscal policy was sustainable both for the EU15 panel set, and within sub-periods (1970-91 and 1992-2006). |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://hal.archives-ouvertes.fr/hal-00322091/document |
| Alternate Webpage(s) | http://www.ecb.int/pub/pdf/scpwps/ecbwp820.pdf |
| Alternate Webpage(s) | http://www.ecb.eu/pub/pdf/scpwps/ecbwp820.pdf |
| Alternate Webpage(s) | https://www.repository.utl.pt/bitstream/10400.5/1364/1/AA-EcoMod2008.pdf |
| Alternate Webpage(s) | http://www.ecb.de/pub/pdf/scpwps/ecbwp820.pdf |
| Alternate Webpage(s) | http://wdi.umich.edu/files/publications/workingpapers/wp893.pdf |
| Alternate Webpage(s) | https://deepblue.lib.umich.edu/bitstream/handle/2027.42/64361/wp893.pdf;jsessionid=4F4186CA80000389CD1A1C89D5365753?sequence=1 |
| Alternate Webpage(s) | https://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp820.pdf |
| Alternate Webpage(s) | http://www.ecb.europa.eu/pub/pdf/scpwps/ecbwp820.pdf |
| Alternate Webpage(s) | http://www.bancaditalia.it/pubblicazioni/altri-atti-convegni/2008-fiscal-sustainability/Afonso_Rault.pdf?language_id=1 |
| Alternate Webpage(s) | http://www.pedz.uni-mannheim.de/daten/edz-ki/ezb/07/w-paper/ecbwp820.pdf |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Panel data |
| Content Type | Text |
| Resource Type | Article |
