sustainability, through the cointegration between government revenues and expenditures, and of external sustainability, derived from …-step approach to assess the impact of fiscal and external sustainability on sovereign risk dynamics for a panel of 27 European … the exports-imports cointegration. We then resort to those time-varying coefficients to assess their impact on sovereign …

In this paper we analyze the sustainability of public finances in the states (Laender) of the Federal Republic of … and 1991 to 2011 for East German Laender, respectively. In order to assess the fiscal sustainability of the (Laender) we …-run relation between expenditures and revenues in a cointegration analysis within each Land. The results provide evidence against …

debt and its ratio to GDP. Second, exploiting unit root analysis and cointegration, we test for the sustainability of … budget constraint ; unit roots ; cointegration ; fiscal sustainability ; economic history …The recent fears of a sovereign debt crisis have spurred interest in the sustainability of public debt. There are two …

analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and cointegration and the … debt crisis has prompted a fundamental re-evaluation of public debt sustainability and the looming threat of sovereign debt …'s peacetime debt-to-GDP (Gross Domestic Product) ratio has never been higher. In this paper, we analyse the sustainability of …

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 "gsecond generation" panel cointegration techniques. A unique identification strategy for the selection of …