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Spend-and-tax: A Panel Data Investigation for the EU
Afonso, António; Rault, Christophe - CESifo - 2009
, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend … Finland and the UK, and for several EU New Member States. Moreover, in the run-up to EMU there was some shifting away from a …
Persistent link: https://www.econbiz.de/10005013057
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Short and Long-run Behaviour of Long-term Sovereign Bond Yields
Afonso, António; Rault, Christophe - CESifo - 2010
This study assesses the short and long-run behaviour of long-term sovereign bond yields in OECD countries, for the period 1973-2008. We employ a dynamic panel approach to reflect financial and economic integration, and to increase the performance and accuracy of the tests. Given the existence of...
Persistent link: https://www.econbiz.de/10008727299
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Budgetary and External Imbalances Relationship: A Panel Data Diagnostic
Afonso, António; Rault, Christophe - CESifo - 2009
between the two imbalances for each country for the period 1970-2007, and for different EU and OECD country groupings. The …
Persistent link: https://www.econbiz.de/10005765818
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3-step analysis of public finances sustainability: the case of the European Union
Afonso, António; Rault, Christophe - European Central Bank - 2008
We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …
Persistent link: https://www.econbiz.de/10005530805
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3-Step Analysis of Public Finances Sustainability: the Case of the European Union
Afonso, António; Rault, Christophe - CESifo - 2008
We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …
Persistent link: https://www.econbiz.de/10005406275
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What do we really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic
Afonso, António; Rault, Christophe - CESifo - 2008
We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically … revenues. While sustainability may be lacking in individual cases, fiscal policy was overall sustainable both for the EU15 …
Persistent link: https://www.econbiz.de/10005416479
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What do we really know about fiscal sustainability in the EU? A panel data diagnostic
Afonso, António; Rault, Christophe - European Central Bank - 2007
We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006). JEL Classification: C23 …
Persistent link: https://www.econbiz.de/10005222321