Many researchers have been focused for decades on the issue of public debt considering its effect on fiscal sustainability in the long run. There is a recent body of research showing that the current financial crises will lead to a considerable increase of public debt in a number of advanced...

This study aims in analysing the fiscal sustainability for the case of European countries most affected by the economic downturn and sovereign debt: Portugal, Ireland, Italy, Greece and Spain. For that purpose, we apply fiscal reaction function which indicates the speed and the size of...

The aim of this paper is to analyze how the primary government balance in Central and Eastern European countries reacts in the short term, in order to assess fiscal sustainability in the long run. For the purpose of this study, a fiscal reaction function is used. Given the different orders of...