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Persistent link: https://www.econbiz.de/10012261072
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...
Persistent link: https://www.econbiz.de/10011811360
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...
Persistent link: https://www.econbiz.de/10011814265
In this paper, we extend Henning Bohn's (2008) fiscal sustainability test by allowing for slope heterogeneity and cross-sectional dependence (CD). In particular, our econometric approach is the first that allows fiscal reaction functions (FRF) to capture unobserved heterogeneous effects from...
Persistent link: https://www.econbiz.de/10011822075
Persistent link: https://www.econbiz.de/10013418635
ensuring that potential benefits from its adoption are realized. This economic literature on fiscal federalism posits a … application in evaluating the PDP Laban Model of Philippine Federalism 1.0 and the Gonzales-De Vera model. The approach of the … fiscal federalism. The assessment also considered current practices through a review of the constitutions of various federal …
Persistent link: https://www.econbiz.de/10011925459
by the Committee on Constitutional Amendments. The federalism discourse in the public arena is oftentimes framed along …
Persistent link: https://www.econbiz.de/10011823022
Persistent link: https://www.econbiz.de/10012200417
Fiscal rules have become popular to limit deficits and high debt burdens in industrialized countries. A growing literature examines their impact based on aggregate fiscal performance. So far, no evidence exists on how fiscal rules influence deficit expectations of fiscal policy makers. In the...
Persistent link: https://www.econbiz.de/10010357588
Persistent link: https://www.econbiz.de/10012226514