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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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Should we care for structural breaks when assessing fiscal sustainability?
Afonso, António; Rault, Christophe - William Davidson Institute, University of Michigan - 2008
sustainability in the overall EU15 panel. …
Persistent link: https://www.econbiz.de/10005784610
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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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Bootstrap panel Granger-causality between government spending and revenue in the EU
Afonso, António; Rault, Christophe - William Davidson Institute, University of Michigan - 2009
, we study the causality between government revenue and spending for the EU in the period 1960-2006. Spend …, Austria, Finland and the UK, and for several EU New Member States. …
Persistent link: https://www.econbiz.de/10008529002
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Bootstrap Panel Granger-Causality between Government Budget and External Deficits for the EU
Afonso, António; Rault, Christophe - CESifo - 2009
period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based … budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France …
Persistent link: https://www.econbiz.de/10005051497
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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