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Fiscal and current account imbalances : the cases of Germany and Portugal

Afonso, António; Coelho, José Carlos - 2021

We investigate the bilateral relationship between government budget balances and current account balances for Portugal and Germany. We find that the response of the current account balance to the budget balance is greater in Portugal than in Germany. On the other hand, the response of the budget...

Persistent link: https://www.econbiz.de/10014293956

Sovereign debt crisis in Portugal and Spain

Afonso, António; Verdial, Nuno - 2020

into the Eurozone. We assessed the pricing of sovereign risk by performing an OLS/2SLS fixed effects panel analysis on a … pool of Eurozone countries and a SUR regression with Portugal and Spain covering the period 1999:11 until 2019:6. Our …. Specifically, market pricing of the Eurozone credit risk, liquidity risk and the risk appetite increased after the crisis and it …

Persistent link: https://www.econbiz.de/10012164218

How to achieve fiscal sustainability in industrialised countries

Afonso, António (contributor) - 2008

Persistent link: https://www.econbiz.de/10009412470

(Non-)Keynesian effects of fiscal austerity : new evidence from a large sample

Afonso, António; Alves, José; Huart, Florence - 2021

We empirically assess whether a usually expected negative response of private consumption and private investment to a fiscal consolidation is reversed. We focus on a large sample of 174 countries between 1970 and 2018. We also employ three alternative measures of the Cyclically Adjusted Primary...

Persistent link: https://www.econbiz.de/10012504460