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Sustainability of German Fiscal Policy and Public Debt : Historical and Time Series Evidence for the Period 1850-2010
Burret, Heiko - 2013
's peacetime debt‐to‐GDP (Gross Domestic Product) ratio has never been higher. In this paper, we analyse the sustainability of …
Persistent link: https://www.econbiz.de/10013085753
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Fiscal Sustainability of the German Laender Time Series Evidence
Burret, Heiko - 2014
, first, examine the stationarity characteristics of public debt, revenues and expenditures. Second, we explore the long …‐run relation between expenditures and revenues in a cointegration analysis within each Land. The results provide evidence against …
Persistent link: https://www.econbiz.de/10013047345
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Panel Cointegration Tests on the Fiscal Sustainability of German Laender
Burret, Heiko - 2014
This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a newly compiled database covering the years 1950‐2011. Unlike previous studies on Germany, we analyze fiscal sustainability by applying “second generation” panel...
Persistent link: https://www.econbiz.de/10013047349
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Modeling Fiscal Sustainability in Dynamic Macro-Panels with Heterogeneous Effects : Evidence from German Federal States
Feld, Lars P. - 2018
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...
Persistent link: https://www.econbiz.de/10012917513