Publicação
Fiscal sustainability, fiscal reactions, pitfalls and determinants
| dc.contributor.author | Afonso, António | |
| dc.contributor.author | Coelho, José Carlos | |
| dc.date.accessioned | 2022-03-21T18:33:09Z | |
| dc.date.available | 2022-03-21T18:33:09Z | |
| dc.date.issued | 2022-03 | |
| dc.description.abstract | We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and one-period lagged public debt-to- GDP ratio; and public debt-to-GDP ratio and one-period lagged primary government balance. The estimated fiscal reaction functions suggest the existence of a Ricardian fiscal regime. Finally, modelling via time-varying coefficients, we find that fiscal sustainability increases with growth, fiscal balances and fiscal rules indices, and decreases with trade openness, current account balances, government effectiveness index, after 2010, and with sovereign ratings assigned by the main rating agencies. | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | Afonso, António e José Carlos Coelho (2022). "Fiscal sustainability, fiscal reactions, pitfalls and determinants". Instituto Superior de Economia e Gestão – REM Working paper series nº 0219 – 2022 | pt_PT |
| dc.identifier.issn | 2184-108X | |
| dc.identifier.uri | http://hdl.handle.net/10400.5/23873 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.publisher | ISEG - REM – Research in Economics and Mathematics | pt_PT |
| dc.relation | Research in Economics and Mathematics | |
| dc.relation.ispartofseries | REM Working paper series;nº 0219 – 2022 | |
| dc.subject | fiscal sustainability | pt_PT |
| dc.subject | budget balance | pt_PT |
| dc.subject | public debt | pt_PT |
| dc.subject | panel data | pt_PT |
| dc.subject | time-varying coefficients | pt_PT |
| dc.subject | Eurozone | pt_PT |
| dc.subject | sovereign ratings | pt_PT |
| dc.title | Fiscal sustainability, fiscal reactions, pitfalls and determinants | pt_PT |
| dc.type | working paper | |
| dspace.entity.type | Publication | |
| oaire.awardNumber | UIDB/05069/2020 | |
| oaire.awardTitle | Research in Economics and Mathematics | |
| oaire.awardURI | info:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F05069%2F2020/PT | |
| oaire.fundingStream | 6817 - DCRRNI ID | |
| project.funder.identifier | http://doi.org/10.13039/501100001871 | |
| project.funder.name | Fundação para a Ciência e a Tecnologia | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | workingPaper | pt_PT |
| relation.isProjectOfPublication | 776d1ee1-e5e8-4d3e-9ec5-a8e9decada99 | |
| relation.isProjectOfPublication.latestForDiscovery | 776d1ee1-e5e8-4d3e-9ec5-a8e9decada99 |