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We analyse Ricardian Equivalence in open economy using a panel of 18 developed countries for 1973-1998. We use a dynamic panel estimated via instrumental variables and we discuss why this specification should be preferred to a static model estimated via ordinary least squares. We find a...
Persistent link: https://www.econbiz.de/10012732785
We empirically assess whether a usually expected negative response of private consumption and private investment to a fiscal consolidation is reversed. We focus on a large sample of 174 countries between 1970 and 2018. We also employ three alternative measures of the Cyclically Adjusted Primary...
Persistent link: https://www.econbiz.de/10012504460
Widening income disparities, higher corruption and larger informality in many emerging market and developing economies (EMDE) including Latin America, all with pressing and mounting fiscal problems, have rekindled interest in the empirical analysis of the key factors determining the occurrence...
Persistent link: https://www.econbiz.de/10015329951
After the collapse in the early years of transition, saving rates in many EU-accession countries have recovered and remained stable during recent years. This may indicate that the transformation process has come to an end with regard to savings. Is saving behaviour in EU-accession countries now...
Persistent link: https://www.econbiz.de/10010324197
Self-reported home values are widely used as a measure of housing wealth by researchers; the accuracy of this measure, however, is an open empirical question, and requires some type of market assessment of the values reported. In this study, the authors examine the predictive power of...
Persistent link: https://www.econbiz.de/10003942953
After the collapse in the early years of transition, saving rates in many EU-accession countries have recovered and remained stable during recent years. This may indicate that the transformation process has come to an end with regard to savings. Is saving behaviour in EU-accession countries now...
Persistent link: https://www.econbiz.de/10011436998
In the Southern African Development Community, the relationships between exchange rate instability, inflation and economic growth remain at the forefront of economic debate because of the historical antecedent and economic clustering of member countries. Nonetheless, much is not known regarding...
Persistent link: https://www.econbiz.de/10013164341
The paper analyses the relationship between trade balance and government budget for the APEC countries over the 1980-2013 years. Using a panel data techniques, a 2-variable VAR is estimated. Empirical findings show that for the whole APEC members as well as for the ASEAN sub-sample a...
Persistent link: https://www.econbiz.de/10012933076
There are competing “views” on the economic effects of debt finance. One view argues that tax and debt finance have identical effects on various economic measures, a view sometimes termed “Ricardian Equivalence”. However, this “Ricardian view” remains controversial, with other views...
Persistent link: https://www.econbiz.de/10011537018
This paper provides new evidence that sustained budget deficits reduce national saving and raise interest rates by economically and statistically significant quantities. Using a series of econometric specifications that nest Ricardian and non-Ricardian models, we obtain evidence of strong...
Persistent link: https://www.econbiz.de/10013130569