Should we care for structural breaks when assessing fiscal sustainability?

We apply recent panel cointegration methods to a structural equation between government expenditure and revenue. Allowing for multiple endogenous breaks and after computing appropriate bootstrap critical values, we conclude for fiscal sustainability in the overall EU15 panel.

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Year of publication:	2008-11-01
Authors:	Afonso, António ; Rault, Christophe
Institutions:	William Davidson Institute, University of Michigan
Subject:	fiscal sustainability \| EU \| panel cointegration

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Series:	William Davidson Institute Working Papers Series.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number wp902
Classification:	C23 - Models with Panel Data ; E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; H62 - Deficit; Surplus
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005784610