We assess the cointegration relationship between current account and budget balances, and effective real exchange rates, using recent bootstrap panel cointegration techniques and SUR methods. We investigate the magnitude of the relationship between the two imbalances for each country for the...

We investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use a panel-data approach based on SUR systems and Wald tests with country specific bootstrap critical values. Our...

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 structural breaks. We also apply modern panel...

We apply recent panel cointegration methods to a structural equation between government expenditure and revenue. Allowing for multiple endogenous breaks and after computing appropriate bootstrap critical values, we conclude for fiscal sustainability in the overall EU15 panel.

We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF specific panel unit root test to investigate the meanreverting behaviour of general government expenditure and revenue ratios. Secondly, we apply the bootstrap panel cointegration...

We study sovereign bond yields in OECD countries with a dynamic panel by checking for cross-section dependence; assessing panel cointegration; and estimating panel errorcorrection models. The results show that markets consider budgetary and external imbalances and inflation as relevant...

Il existe des marges de manœuvre pour augmenter les ressources de l'éducation du supérieur tout en préservant une forme d'équité, grâce à l'introduction de dispositifs de prêt à remboursement conditionnels au revenu. Ces dispositifs, sans grever le budget des étudiants durant leur...

L'objectif de cet article est d'analyser l'effet de la mise en place d'une " TVA sociale " sur les inégalités et le pouvoir d'achat des ménages. Deux scénarios sont simulés : (1) une augmentation de 5 points du taux normal et du taux réduit de TVA ; (2) une augmentation de 5 points du taux...