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Determinants of Stock Market Correlations. Accounting for Model Uncertainty and Reverse Causality in a Large Panel Setting
Afonso, António; Beck, Krzysztof; Jackson, Karen - 2022
We examine 22 determinants of stock market correlations in a panel setting with 651 country pairs of developed economies over the 2001-2018 period, while accounting for model uncertainty and reverse causality. On the one hand, we find, that a number of determinants, well established in the...
Persistent link: https://www.econbiz.de/10014236714
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Determinants of Stock Market Correlation. Accounting for Model Uncertainty and Reverse Causality in a Large Panel Setting
Afonso, António; Beck, Krzysztof; Jackson, Karen - 2022
We examine 22 determinants of stock market correlations in a panel setting with 651 country pairs of developed economies over the 2001-2018 period, while accounting for model uncertainty and reverse causality. On the one hand, we find, that a number of determinants, well established in the...
Persistent link: https://www.econbiz.de/10014237624
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To consolidate or not to consolidate? : a multi-step analysis to assess needed fiscal sustainability
Afonso, António; Alves, José; Jalles, João Tovar - 2022
specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a … primary balance above or below the debt-stabilizing primary balance (provided by the IMF's Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …
Persistent link: https://www.econbiz.de/10012938962
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To Consolidate or Not to Consolidate? A Multi-Step Analysis to Assess Needed Fiscal Sustainability
Afonso, António; Alves, José; Jalles, João Tovar - 2022
specifically on their degree of success, notably in terms of fiscal sustainability. The "need" to consolidate is based on having a … primary balance above or below the debt-stabilizing primary balance (provided by the IMF's Debt Sustainability Analysis) for … each country. We then link the need for and the actual (historical) existence of fiscal adjustments to their sustainability …
Persistent link: https://www.econbiz.de/10013177652
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What do we really know about fiscal sustainability in the EU? : a panel data diagnostic
Afonso, António (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003641707
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Fiscal policy responsiveness, persistence and discretion
Afonso, António; Agnello, Luca; Furceri, Davide - 2008
Persistent link: https://www.econbiz.de/10003790452
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Fiscal policy responsiveness, persistence and discretion
Afonso, António; Agnello, Luca; Furceri, Davide - 2008
We decompose fiscal policy in three components: i) responsiveness, ii) persistence and iii) discretion. Using a sample of 132 countries, our results point out that fiscal policy tends to be more persistent than to respond to output conditions. We also found that while the effect of cross-country...
Persistent link: https://www.econbiz.de/10003794171
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How to achieve fiscal sustainability in industrialised countries
Afonso, António (contributor) - 2008
Persistent link: https://www.econbiz.de/10009412470
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3-step analysis of public finances sustainability : the case of the European Union
Afonso, António; Rault, Christophe - 2008
Persistent link: https://www.econbiz.de/10010376812
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Fiscal sustainability in the EU : a panel data diagnostic
Afonso, António; Rault, Christophe - In: Fiscal sustainability : analytical developments and …, (pp. 49-68). 2009
Persistent link: https://www.econbiz.de/10010258034