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We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically … revenues. While sustainability may be lacking in individual cases, fiscal policy was overall sustainable both for the EU15 …
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We examine the sustainability of public finances and its determinants for 19 Eurozone countries from 1995 to 2020. We conclude for the existence of panel cointegration between government revenues and expenditures; primary government balance and one-period lagged public debt-to-GDP ratio; and...
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