Testing fiscal sustainability in OECD countries: new evidence from the past centuries

被引：2

作者：

Saadaoui, Jamel ^{[1
]}

Lau, Chi Keung Marco ^{[2
]}

Cai, Yifei ^{[3
]}

机构：

[1] Univ Strasbourg, Univ Lorraine, CNRS, BETA, Strasbourg, France

[2] Hang Seng Univ Hong Kong, Hong Kong, Peoples R China

[3] Jilin Int Studies Univ, Int Business Sch, Changchun, Peoples R China

来源：

APPLIED ECONOMICS LETTERS | 2024年 / 31卷 / 07期

关键词：

Fourier DF unit root test; debt sustainability; public debt; primary balance; time-varying; threshold regressions; FLEXIBLE FOURIER FORM;

D O I：

10.1080/13504851.2022.2142502

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using three complementary approaches that examine the fulfilment of the intertemporal budget constraint while avoiding explosive behaviour, this study examines the stationarity and the sustainability of public finance for six industrial countries over the period spanning from 1870 to 2017. According to Fourier DF unit root tests, time-varying fiscal reaction functions and threshold reaction functions, we find that longer-run debt sustainability is not rejected for the UK, Sweden, and for the US. The evidence is somewhat equivocal for Canada, Italy and Portugal.

引用

页码：676 / 682

页数：7

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