We assess the sustainability of public finances in OECD countries, over the period 1970-2010, using unit root and … cointegration analysis, both country and panel based, controlling for endogenous breaks. Results notably show: lack of cointegration … – absence of sustainability – between government revenues and expenditures for most countries (except for Austria, Canada …

sustainability of U.S. federal fiscal policy. The present-value borrowing constraint, which states that, for the fiscal policy to be … analysing fiscal sustainability. Incorporating rational expectations we extend the methodology developed by Hamilton and Flavin … (1986) to test the sustainability hypothesis in a cointegrating framework that can accommodate both stationary and non …

The aim of the study is to assess fiscal sustainability in the Czech Republic, Hungary and Poland and to test for … conducted using unit root tests and cointegration analysis with possible structural breaks. The approach is consistent with so …

analysis, we conduct formal tests on fiscal sustainability, including tests on stationarity and cointegration and the … 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 …

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

correlates well with the economic property of sustainability of the budget deficit. The univariate unit root tests indicated a …

We study the sustainability of sovereign debt accumulation in 15 OECD countries using quarterly data from 1980 to 2010 … with a focus on how and in what countries debt sustainability changed after the commencement of the Euro Convergence … Criteria in 1997 as well as after the financial meltdown in 2007. We define sustainability as the validity of the inter …

without compromising financial stability and fiscal sustainability on long term, on the other hand, governments must undertake …