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Persistent link: https://www.econbiz.de/10001625850
We apply recent panel cointegration methods to a structural equation between government expenditure and revenue. Allowing for multiple endogenous breaks and after computing appropriate bootstrap critical values, we conclude for fiscal sustainability in the overall EU15 panel
Persistent link: https://www.econbiz.de/10014222681
With the fiscal theory of the price level (FTPL), Leeper-Sims-Woodford (LSW) argued that the government budget … in this paper, the attempts to validate empirically the novel theory are, so far, rather sparse. Therefore, one of the …
Persistent link: https://www.econbiz.de/10014116811
Persistent link: https://www.econbiz.de/10009746180
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With a panel VAR of 10 Euro area countries we study the budgetary determinants of government bond yield spreads vis-à-vis Germany between 1999Q1 and 2012Q4. We find that rising bid ask, VIX and debt differentials increase yield spreads; and improvements in the budget balance, higher growth...
Persistent link: https://www.econbiz.de/10013001986
We estimate short- and long-run elasticities of private consumption for fiscal instruments, using a Fixed Effects model for the 19-euro area countries during the period of 1960-2017, to assess how fiscal elasticities vary during fiscal episodes. According to the results, positive “tax...
Persistent link: https://www.econbiz.de/10012861967
We apply recent panel cointegration methods to a structural equation between government expenditure and revenue. Allowing for multiple endogenous breaks and after computing appropriate bootstrap critical values, we conclude for fiscal sustainability in the overall EU15 pane
Persistent link: https://www.econbiz.de/10012725605
Persistent link: https://www.econbiz.de/10012384754
Persistent link: https://www.econbiz.de/10012814843