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Causality for the Government Budget and Economic Growth

Afonso, António - 2014

We use a panel of 155 countries for 1970-2010 to study (two-way) causality between government spending, revenue and growth. Our results suggest the existence of weak evidence supporting causality from expenditures or revenues to GDP per capita and provide evidence supporting Wagner's Law

Persistent link: https://www.econbiz.de/10013054892

Structural tax reforms and public spending efficiency

Afonso, António; Jalles, João Tovar; Venâncio, Ana - In: Open economies review 32 (2021) 5, pp. 1017-1061

Persistent link: https://www.econbiz.de/10013171899

International Transmission of Interest Rates : The Role of International Reserves and Sovereign Debt

Afonso, António; Huart, Florence; Jalles, João Tovar; … - 2021

We analyse the international transmission of interest rates by focusing on the role of the accumulation of international reserves and on the financing of sovereign debt. An increase in foreign exchange reserves is expected to moderate the influence of U.S. interest rates. However, a high level...

Persistent link: https://www.econbiz.de/10013240933

Economia e finanças públicas

Pereira, Paulo Trigo C.; Afonso, António; Santos, … - 2022 - 6a edição revista e actualizada

Persistent link: https://www.econbiz.de/10013270153

Corruption and economic growth : does the size of the government matter?

Afonso, António; Rodrigues, Eduardo de Sá Fortes Leitão - In: Economic change & restructuring 55 (2022) 2, pp. 543-576

Persistent link: https://www.econbiz.de/10013262746

Public and Private Inputs in Aggregate Production and Growth : A Cross-Ccountry Eefficiency Approach

Afonso, António; St. Aubyn, Miguel - 2021

In a cross section of OECD countries we replace the macroeconomic production function by a production possibility frontier, TFP being the composite effect of efficiency scores and possibility frontier changes. We consider, for the periods 1970, 1980, 1990, 2000, one output: GDP per worker; three...

Persistent link: https://www.econbiz.de/10013316261

Income Distribution Determinants and Public Spending Efficiency

Afonso, António; Schuknecht, Ludger; Tanzi, Vito - 2021

In this paper we examine the impact of public spending, education, and institutions on income distribution in advanced economies. We also assess the efficiency of public spending in redistributing income by using a DEA (Data Envelopment Analysis) nonparametric approach. We find that public...

Persistent link: https://www.econbiz.de/10013316623

The Relevance of Fiscal Rules for Fiscal and Yield Developments

Afonso, António - 2014

Numerical fiscal rules mitigate the bias of pro-cyclicality, as an alternative to discretionary measures conducted by policy makers. We assess whether fiscal rules impact budget balances and sovereign yields, and we perform a simulation exercise to compute debt developments of EU countries,...

Persistent link: https://www.econbiz.de/10013062087

Is public investment in construction and in R&D, growth enhancing? : A PVAR approach

Afonso, António; Rodrigues, Eduardo - In: Applied economics 56 (2024) 24, pp. 2875-2899

Persistent link: https://www.econbiz.de/10014526242

Sovereign credit ratings, market volatility, and financial gains

Afonso, António; Gomes, Pedro; Taamouti, Abderrahim - In: Computational Statistics & Data Analysis 76 (2014) C, pp. 20-33

defined using EGARCH specifications. The estimation results show that upgrades do not have significant effects on volatility …, but downgrades increase stock and bond market volatility. Contagion is present, and sovereign rating announcements create … volatility in other countries. The empirical results show also a financial gain and risk (value-at-risk) reduction for portfolio …

Persistent link: https://www.econbiz.de/10011056573