Was Swiss federal fiscal policy sustainable over the period from 1900 to 2002? We perform unit root and cointegration … sustainability over the entire period. However, splitting the sample into two sub-samples before and after World War II, the results … do much less support sustainability. Finally, applying the tax smoothing model of BARRO (1979), we show that cyclical …

anecdotal historical analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and … cointegration and the estimation of Vector Autoregression (VAR) and Vector Error Correction Models (VECM). While we cannot reject … rejection of the hypothesis of fiscal sustainability for the period from 1950 to 2010.This evidence leads to the conclusion that …

and cointegration tests for federal revenues and expenditures, taking into account a structural shift in the budgetary … process related to World War II. We find sustainability over the entire period. However, splitting the sample into two sub …-samples before and after World War II, the results do much less support sustainability. Finally, applying the tax smoothing model of …

In this study, we analyse the sustainability of fiscal policy of EU member countries within the panel cointegration and … error-correction frameworks. Unlike the previous empirical papers in this area, we apply the test for panel cointegration … between the primary budget deficit and the public debt defined in GDP ratios. Based on the cointegration test results, we …

cointegration model reveal that the public domestic debt in Egypt has a robust negative impact on growth. The sustainability of debt … fears are being express about the debt sustainability. Utilizing data for the period 1981-2006, the results obtained from …

sustainability of U.S. federal fiscal policy. The present-value borrowing constraint, which states that, for the fiscal policy to be … analysing fiscal sustainability. Incorporating rational expectations we extend the methodology developed by Hamilton and Flavin … (1986) to test the sustainability hypothesis in a cointegrating framework that can accommodate both stationary and non …

The aim of the study is to assess fiscal sustainability in the Czech Republic, Hungary and Poland and to test for … conducted using unit root tests and cointegration analysis with possible structural breaks. The approach is consistent with so …

We study the sustainability of sovereign debt accumulation in 15 OECD countries using quarterly data from 1980 to 2010 … with a focus on how and in what countries debt sustainability changed after the commencement of the Euro Convergence … Criteria in 1997 as well as after the financial meltdown in 2007. We define sustainability as the validity of the inter …