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Public Sector Efficiency : Evidence for New EU Member States and Emerging Markets

Afonso, António; Schuknecht, Ludger; Tanzi, Vito - 2021

rankings by applying a range of measurement techniques. The study finds that expenditure efficiency across new EU member states …

Persistent link: https://www.econbiz.de/10013318047

What do we really know about fiscal sustainability in the EU? A panel data diagnostic

Afonso, António; Rault, Christophe - 2007

We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006). …

Persistent link: https://www.econbiz.de/10011604866

Business cycle synchronization and insurance mechanisms in the EU

Afonso, António; Furceri, Davide - 2007

In this paper we provide a positive exercise on past business-cycle correlations and risk sharing in the European Union, and on the ability of insurance mechanisms and fiscal policies to smooth income fluctuations. The results suggest in particular that while some of the new Member States have...

Persistent link: https://www.econbiz.de/10011604890

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 … 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/10011604954

Budgetary and external imbalances relationship: a panel data diagnostic

Afonso, António; Rault, Christophe - 2008

between the two imbalances for each country for the period 1970-2007, and for different EU and OECD country groupings. The …

Persistent link: https://www.econbiz.de/10011605007

Fiscal policy and growth: do financial crises make a difference?

Afonso, António; Grüner, Hans Peter; Kolerus, Christina - 2010

In this paper we assess to what extent in the existence of a financial crisis, government spending can contribute to mitigate economic downturns in the short run and whether such impact differs in crisis and non crisis times. We use panel analysis for a set of OECD and non-OECD countries for the...

Persistent link: https://www.econbiz.de/10011605263

Fiscal regimes in the EU

Afonso, António; Toffano, Priscilla - 2013

We assess the existence of fiscal regime shifts in the U.K., Germany, and Italy, using Markov switching fiscal rules. On the basis of a newly built quarterly data set, our results show the existence of fiscal regimes shifts, sometimes coupled with regime switches also regarding monetary...

Persistent link: https://www.econbiz.de/10011605574

Dating EU15 monthly business cycle jointly using GDP and IPI

Billio, Monica; Caporin, Massimiliano; Cazzavillan, Guido - 2007

This paper aims at the production of a chronology for the EU15 business cycle by comparing parametric and non … series for the EU15 Gross Domestic Product (GDP) and the EU15 Industrial Production Index (IPI) from 1970 to 2003. The … monthly IPI and the quarterly GDP at the EU15 level have been reconstructed starting from the available national series. The …

Persistent link: https://www.econbiz.de/10003912122

Euro area sovereign debt crisis and debt mutualisation

Afonso, António; Alcântara, Marcelo - 2016

Persistent link: https://www.econbiz.de/10011549292

Revisiting sovereign bond spreads' determinants in the EMU

Afonso, António; Reis, Manuel - 2016

Persistent link: https://www.econbiz.de/10011549478