Burret, Heiko T.; Feld, Lars P.; Köhler, Ekkehard A. - In: Journal of Economics and Statistics (Jahrbuecher fuer … 233 (2013) 3, pp. 291-335
anecdotal historical analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and … rejection of the hypothesis of fiscal sustainability for the period from 1950 to 2010.This evidence leads to the conclusion that … fiscal consolidation actually takes place – for the sake of public debt sustainability. …