We analyze the sustainability of public finances in the 16 states (Laender) of the Federal Republic of Germany using an … explore their long‐run relation in cointegration analyses for each Land we extend the existing literature. The results provide … evidence against strict fiscal sustainability in a majority of German Laender. A notable exception to this finding is Bavaria. …

This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a … newly compiled database covering the years 1950 - 2011. Unlike previous studies on Germany, we analyze fiscal sustainability … by applying "gsecond generation" panel cointegration techniques. A unique identification strategy for the selection of …

debt crisis has prompted a fundamental re‐evaluation of public debt sustainability and the looming threat of sovereign debt …'s peacetime debt‐to‐GDP (Gross Domestic Product) ratio has never been higher. In this paper, we analyse the sustainability of … anecdotal his‐torical analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and …