cointegration analysis, both country and panel based, controlling for endogenous breaks. Results notably show: lack of cointegration … several countries, and panel data results corroborate the time-series findings …

cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for … structural breaks. We also apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006) …

European countries from 1970 to 2010. This is implemented in an interacted panel VAR framework in which all coefficient …

Recent fiscal policies have aimed to stimulate household spending. In 2008, most households received one-time economic …

panel setting. We find that fiscal expansions are associated with an increase in household saving rate in the euro area …We study the relationship between fiscal policy and household saving across the euro area countries for the period 1999 … and estimation uncertainty and no robust evidence for total private saving offset. Our results for the euro area are …

In this paper, we propose a time-varying parameter VAR model with stochastic volatility which allows for estimation on …