is to empirically explore the contagion phenomenon during the subprime crisis for seven EU and non-EU countries. To test …

, we study the causality between government spending and revenue for the EU in the period 1960-2006. We find spend … Finland and the UK, and for several EU New Member States. Moreover, in the run-up to EMU there was some shifting away from a …

unit roots, we study the causality between government spending and revenue for the EU in the period 1960 1960-2006. We find … present for Germany, Belgium, Austria Finland and the UK, and for several EU New Member States. Moreover, in the run run-up to …

) for nine EU New Member States (NMS) using unit root and panel unit root frameworks. Three periods are considered: the … period before NMS joined the EU (1995:01-2004:04), the period after NMS joined the EU (2004:05-2008:12), and the sum of the … joined the EU. …