Rault, Christophe; Alfonso, Antonio - William Davidson Institute, University of Michigan - 2007
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 … government expenditures and revenues. While estimations point to fiscal sustainability being an issue in some countries, fiscal …