Using bootstrap panel analysis, allowing for cross-country correlation, without the need of pre-testing for unit roots …

Using bootstrap panel analysis, allowing for cross-country correlation, without the need of pre-testing for unit roots …

We study sovereign bond yields in OECD countries with a dynamic panel by checking for cross-section dependence …; assessing panel cointegration; and estimating panel error-correction models. The results show that markets consider budgetary … and external imbalances and inflation as relevant determinants of sovereign yields. -- long-term yields ; panel …

period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based … effective real exchange rate in the SUR system does not substantially alter the results. -- Panel causality tests ; budget …

Using bootstrap panel analysis, allowing for cross-country correlation, without the need of pre-testing for unit roots …

period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based …

country. We employ the bootstrap panel Granger causality testing approach of Kónya (2006) that allows to test for causality on …

specific panel unit root test to investigate the mean-reverting behaviour of general government expenditures and revenues … ratios. Secondly, we apply the bootstrap panel cointegration techniques that account for the time series and cross … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …