Afonso, António; Rault, Christophe - 2009
period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based …, Italy, Hungary, Lithuania, Poland, and Slovakia, along the lines of the so-called twin-deficit relationship. Considering the … effective real exchange rate in the SUR system does not substantially alter the results. -- Panel causality tests ; budget …