Sustainability and Co-Movement of Government Debt in EMU Countries : A Panel Data Analysis

We investigate the sustainability of fiscal policy in a set of 19 European Monetary Union (EMU) countries over the period 1970-2016. Panel unit root tests in the presence of cross-section dependence show that the government debt series is stationary, indicating that the solvency condition would be satisfied for these countries. This confirms the effectiveness of the austerity measures implemented by these member states. Moreover, an unobserved common factor drives the co-movement of government debt in the Eurozone

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Year of publication:	2018
Authors:	Magazzino, Cosimo
Publisher:	[2018]: [S.l.] : SSRN
Subject:	EU-Staaten \| EU countries \| Eurozone \| Euro area \| Öffentliche Schulden \| Public debt \| Panel \| Panel study \| Finanzpolitik \| Fiscal policy \| Geldpolitik \| Monetary policy \| Nachhaltige Entwicklung \| Sustainable development \| Nachhaltigkeit \| Sustainability
Description of contents:	Abstract [papers.ssrn.com]

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Extent:	1 Online-Ressource
Type of publication:	Book / Working Paper
Language:	English
Notes:	In: Southern Economic Journal, 85, 1, 189-202, DOI: 10.1002/soej.12269, ISSN: 2325-8012 Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2018 erstellt Volltext nicht verfügbar
Classification:	C23 - Models with Panel Data ; C33 - Models with Panel Data ; E62 - Fiscal Policy; Public Expenditures, Investment, and Finance; Taxation ; H63 - Debt; Debt Management
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10012909021