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 …

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 …

sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability … narrative shock scenarios; (ii) a stochastic DSA, providing for a probabilistic approach to debt sustainability; and (iii) other … summarised in a heat map, which can provide guidance on the overall assessment of risks to debt sustainability. This method …

sufficient fiscal buffers during normal and good times. It has also reaffirmed the need for a thorough debt sustainability … narrative shock scenarios; (ii) a stochastic DSA, providing for a probabilistic approach to debt sustainability; and (iii) other … summarised in a heat map, which can provide guidance on the overall assessment of risks to debt sustainability. This method …

The sustainability of fiscal deficits has been receiving increasing attention. The issue is paramount for the newly … formed euro area and this is one of the motivations of this paper. In order to assess the sustainability of budget deficits …, co-integration tests between public expenditures and public revenues, allowing for structural breaks, are performed for …

Sustainability, as compared to the rule of law, human rights, sovereignty or democracy, is a relatively new … helps to reconstruct a number of current constitutional debates under one conceptual umbrella. Sustainability comprises … I am first going to sketch the nature and the types of the sustainability challenges that contemporary societies face …

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 cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee …

With this paper, our objective is to empirically study public debt sustainability by estimating a fiscal reaction …