We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel...

We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel cointegration techniques developed by...

We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also apply modern panel...

In France, government debt steadily rose from just below 20% of GDP in 1980 to more than 60% today. This raises concerns about the sustainability of public finances i.e. whether the government's intertemporal budget constraint can be satisfied without a major change in fiscal policy practices...

The fiscal response in India to deal with the contagion from the global crisis during 2008-10 was driven by the need to arrest a major slowdown in economic growth. However, there could be medium-term risks to the future inflation path, in the absence of timely fiscal consolidation. As...

This paper focuses on some of the practical issues involved in developing coluntary domestic markets for government debt.

This paper considers the view that trade union power played a major role in the deterioration of macroeconomic performance in Australia in the 1970s and that the subsequent decrease in trade union power has improved Australia’s macroeconomic possibilities. Using the model of a range of...

In this paper, we provide a test of the sustainability of the Spanish government deficit over the period 1850-2000, and examine the role played by monetary and fiscal dominance in order to get fiscal solvency. The longer than usual span of the data would allow us to obtain some more robust...