In an OCDE panel, for the period 1970-2010, we assess the effects of fiscal consolidation episodes, with four different definitions. Our results reveal that lower final government consumption would increase private consumption in three out of the four approaches, when there is a fiscal...

This study estimates the effects of the immigration stock, as well as those of immigrants’ characteristics, such as having the same language as that of the host country and the level of qualification or entrepreneurship, on Portuguese intra-industry trade (IIT) by types, controlling for the...

We measure the success of fiscal consolidation, with alternative definitions, based on ad-hoc quantitative approaches and on a policy-action approach. The cyclically adjusted primary balance, and the duration of the consolidation contribute for its success, and the opposite applies for revenue...

This paper examines the determinants of vertical intra-industry trade (VIIT) in the automobile components industry between Portugal and the European Union 27 (EU-27) and the BRIC countries (Brazil, Russia, India and China) during the period 1995-2006. Using a static and a dynamic panel data...

According to Keynesian economics wisdom, government debt has an effect on the economy since consumers see government debt as net wealth. However, according to the debt neutrality hypothesis of Ricardo (1817), popularised by Barro (1974), such effects would be absent. This paper’s results,...

This paper examines the lottery sales of 99 countries by type of product in order to analyze the socioeconomic and demographic features that help to explain gambling consumption around the world. With a panel data analysis covering 13 years, this study explains the variation of a country’s...

According to conventional macroeconomics, public debt has a significant effect on the economy since consumers see public debt as net wealth, however, according to the Ricardian Equivalence hypothesis, that effect would be absent. This paper’s results, obtained from Euler equation estimations,...

This paper tests the relation between immigration and Portuguese bilateral trade. Using a panel data analysis, the results show that the stock of immigrants has a positive effect on Portuguese exports, imports and bilateral intraindustry trade. The underlying assumption is that immigration...

In this paper we study the determinants of sovereign debt credit ratings using rating notations from the three main international rating agencies, for the period 1995-2005. We employ panel estimation and random effects ordered probit approaches to assess the explanatory power of several...

This paper provides new insights about the existence of expansionary fiscal consolidations in the Economic and Monetary Union, using annual panel data for 14 European Union countries over the period 1970-2012. Different measures for assessing fiscal consolidations based on the changes in the...