-run relation between expenditures and revenues in a cointegration analysis within each Land. The results provide evidence against …

explore their long‐run relation in cointegration analyses for each Land we extend the existing literature. The results provide …

analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and cointegration and the …

by applying "gsecond generation" panel cointegration techniques. A unique identification strategy for the selection of … sub-panels improves the robustness of panel cointegration tests and reveals that Laender finances are hardly sustainable. …

cointegration and the estimation of Vector Autoregression (VAR) and Vector Error Correction Models (VECM). While we cannot reject …