Showing 1 - 10 of 48
This paper presents and describes a new database of major minimum wage and collective bargaining reforms covering 26 advanced economies over the period 1970-2020. The main advantage of this dataset is the precise identification of the nature and date of major reforms, which is valuable in many...
Persistent link: https://www.econbiz.de/10013176915
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 determinants of sovereign yields. -- long-term yields ; panel …
Persistent link: https://www.econbiz.de/10008653417
specific panel unit root test to investigate the mean-reverting behaviour of general government expenditures and revenues … ratios. Secondly, we apply the bootstrap panel cointegration techniques that account for the time series and cross … 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/10003751092
We consider a new dataset that provides a description of the population of financial equity flows between developed countries from 2001 to 2018. We follow the standard practice of controlling for pull and push factors as well as gravity-style variables, while also accounting for the business...
Persistent link: https://www.econbiz.de/10013332123
We examine the relationship between inflation and fiscal sustainability with a two-step approach. In the first step, we estimate to estimate a country-specific time-varying measure of fiscal sustainability using the fiscal reaction function. This function captures the response of the primary...
Persistent link: https://www.econbiz.de/10014444867
conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and …
Persistent link: https://www.econbiz.de/10013162289
We assess the link between fiscal sustainability coefficients, namely the responses of the primary government balance and the global government balance to the debt-to-GDP ratio, and the response of government revenues to government expenditures. For 22 OECD developed countries we use annual data...
Persistent link: https://www.econbiz.de/10013494178
economic growth in the Least Developed Countries (LDCs) using panel data for the period 2000-2021. Results show that, in …
Persistent link: https://www.econbiz.de/10014427512
, using recent bootstrap panel cointegration techniques and SUR methods. We investigate the magnitude of the relationship … panel cointegration tests used allow for within and between correlation, while the SUR results show both positive and … balances. -- Budget balance ; external balance ; EU ; panel cointegration …
Persistent link: https://www.econbiz.de/10003808652
We assess the specific need (or its absence) of a country to implement a fiscal consolidation programme by focusing specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a primary balance above or below the...
Persistent link: https://www.econbiz.de/10012938962