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3-Step analysis of public finances sustainability: the case of the European Union

Afonso, António; Rault, Christophe - 2008

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 mean-reverting behaviour of general government expenditures and revenues ratios. Secondly, we apply the bootstrap panel...

Persistent link: https://www.econbiz.de/10010264433

Budgetary and external imbalances relationship: a panel data diagnostic

Afonso, António; Rault, Christophe - 2009

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...

Persistent link: https://www.econbiz.de/10010264569

Bootstrap panel granger-causality between government budget and external deficits for the EU

Afonso, António; Rault, Christophe - 2009

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 the panel-data approach of Kónya (2006), which is based on SUR systems and Wald tests with country specific...

Persistent link: https://www.econbiz.de/10010264585

Long-run determinants of sovereign yields

Afonso, António; Rault, Christophe - 2010

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

Persistent link: https://www.econbiz.de/10010270876

Reformoption Duale Einkommensteuer: Aufkommens- und Verteilungseffekte

Gottfried, Peter; Witczak, Daniela - 2009

berücksichtigt, die sich an den Erkenntnissen der New-Tax-Responsivenes Literatur orientieren. Ohne Berücksichtigung von … der Übergang zur Dualen Einkommensteuer eine Umverteilung von unten nach oben bewirken. …

Persistent link: https://www.econbiz.de/10010271472

Fiscal reforms during fiscal consolidation: The case of Italy

Arachi, Giampaolo; Bucci, Valeria; Longobardi, Ernesto; … - 2012

-term economic growth, advocated a shift of the tax burden from capital and labour income to consumption and property. Through a set … of micro simulation models, this paper evaluates the effects of the Italian fiscal package on households and firms. We … show that, in respect of households' income, indirect and property tax reforms are highly regressive, whilst the reform …

Persistent link: https://www.econbiz.de/10010281044

Das IAW-Einkommenspanel und das Mikrosimulationsmodell SIMST

Gottfried, Peter; Schellhorn, Hannes - 2001

Persistent link: https://www.econbiz.de/10010322045