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Sources of convergence in the European Union: the case of Portugal

Pontes, José Pedro - ISEG - School of Economics and Management, Department … - 2001

The paper surveys the main trends of per capita income convergence in the European Union. It stresses that income … disparities have ceased to diminish across the European regions since 1980, although convergence between countries has continued … behind income convergence are analized by means of the decomposition of per capita income in labor productivity and …

Persistent link: https://www.econbiz.de/10005463756

Regional Convergence in Portugal in the context of the European Union

Pontes, José Pedro - ISEG - School of Economics and Management, Department … - 2000

Main trends of per capita income convergence in Portugal and the European Union are surveyed. An explanation is given … to the fact that in the last two decades countries have converged, while no visible convergence has taken place among the … distribution of the stock of existing firms in the European Union is fixed, it is assumed that the degree of convergence follows …

Persistent link: https://www.econbiz.de/10005463763

Comparing Macroeconomic Returns on human and Public Capital: An Empirical Analysis of the Portuguese Case (1960-2001)

Aubyn, Miguel ST.; Pina, Álvaro - ISEG - School of Economics and Management, Department … - 2004

The impact of human and public capital on growth is a major issue in economic theory and in policy evaluation. Using a cointegrated VAR, we estimate a Cobb-Douglas production function for Portugal with public and human capital. Return rates are then computed with and without dynamic feedbacks....

Persistent link: https://www.econbiz.de/10005592992

Bootstrap Panel Granger-Causality Between Government Spending and Revenue

Afonso, António; Rault, Cristophe - ISEG - School of Economics and Management, Department … - 2008

Using bootstrap panel analysis, allowing for cross-country correlation, without the need of pre-testing for unit roots, we study the causality between government revenue and spending for the EU in the period 1960-2006. Spend-and-tax causality is found for Italy, France, Spain, Greece, and...

Persistent link: https://www.econbiz.de/10005463734

Expansionary fiscal consolidations in Europe: new evidence

Afonso, António - ISEG - School of Economics and Management, Department … - 2006

In order to assess the existence of expansionary fiscal consolidations in Europe, panel data models for private consumption are estimated for the EU15 countries, using annual data over the period 1970–2005. Three alternative approaches to determine fiscal episodes are used, and the level of...

Persistent link: https://www.econbiz.de/10005463746

Government Size, Composition, Volatility and Economic Growth

Afonso, António; Furceri, Davide - ISEG - School of Economics and Management, Department … - 2008

This paper analyses the effects in terms of size and volatility of government revenue and spending on growth in OECD and EU countries. The results of the paper suggest that both variables are detrimental to growth. In particular, looking more closely at the effect of each component of government...

Persistent link: https://www.econbiz.de/10005463753

The Macroeconomic Effects of Fiscal Policy

Afonso, António; Sousa, Ricardo M. - ISEG - School of Economics and Management, Department … - 2008

We investigate the macroeconomic effects of fiscal policy using a Bayesian Structural Vector Autoregression approach. We build on a recursive identification scheme, but we: (i) include the feedback from government debt (ii); look at the impact on the composition of output; (iii) assess the...

Persistent link: https://www.econbiz.de/10005463754

The macro impact of the Portuguese Constitutional Court decisions regarding the budgetary proposals of the Portuguese Budget Law (2012, 2013, 2014)

Afonso, António; Caiado, Jorge; Aubyn, Miguel St. - ISEG - School of Economics and Management, Department … - 2015

We review the main budgetary measures not accepted by the Portuguese Constitutional Court in the Budget Laws of 2012, 2013 and 2014. Considering the feedback effect of the fiscal impulse, the impact on the budget balance is -0.42% and of -0.34% of GDP respectively for 2013 and for 2014; in both...

Persistent link: https://www.econbiz.de/10011200172

Monetary Developments and Expansionary Fiscal Consolidations: Evidence from the EMU

Afonso, António; Martins, Luís - ISEG - School of Economics and Management, Department … - 2014

This paper provides new insights about the existence of expansionary fiscal consolidations in the Economic and Monetary Union, using annual panel data for 14 European Union countries over the period 1970-2012. Different measures for assessing fiscal consolidations based on the changes in the...

Persistent link: https://www.econbiz.de/10010891914

Interactions between Monetary Policy and Fiscal Policy

Afonso, António; Balhote, Raquel - ISEG - School of Economics and Management, Department … - 2014

Using a panel data set of 14 EU countries from 1970 to 2012, we study the type of monetary and fiscal policies of both authorities, and assess how they are influenced by certain economic variables and events (the Maastricht Treaty, the Stability and Growth Pact, the Euro and crises). Results...

Persistent link: https://www.econbiz.de/10010934501