A carregar...
Publicação
The elusive character of fiscal sustainability
| Nome: | Descrição: | Tamanho: | Formato: | |
|---|---|---|---|---|
| 1.55 MB | Adobe PDF |
Autores
Orientador(es)
Resumo(s)
We assess the sustainability of public finances in OECD countries using unit root and cointegration
analysis, controlling for endogenous breaks. Results deem fiscal sustainability as rather
elusive since we find lack of cointegration – absence of sustainability – between government
revenues and expenditures (except for Austria, Canada, France, Germany, Japan, Netherlands,
Sweden and UK); improvements of the primary balance after worsening debt ratios only for
Australia, Belgium, Germany, Ireland, Netherlands and the UK; and Granger causality from
government debt to primary balances for 12 countries (suggesting Ricardian regimes).
Descrição
Palavras-chave
Debt Primary Balance Fiscal Regimes Stationarity Breaks Causality DOLS
Contexto Educativo
Citação
Afonso, António and João Tovar Jalles. (2016). "The elusive character of fiscal sustainability". Applied Economics, Vol. 48, No. 28: pp. 2651-2664.
Editora
Taylor & Francis Group