Fiscal sustainability: a panel assessment for advanced economies

被引：22
|
作者：
Afonso, Antonio [1 ]
Jalles, Joao Tovar [2 ]
机构：
[1] Univ Lisbon, Dept Econ, UECE Res Unit Complex & Econ, ISEG ULisbon, P-1249078 Lisbon, Portugal
[2] Nova Sch Business & Econ, Ctr Globalizat & Governance, P-1099032 Lisbon, Portugal
来源：
APPLIED ECONOMICS LETTERS | 2015年 / 22卷 / 11期
关键词：
debt; primary balance; stationarity; panel analysis; FMOLS; C33; E62; H62; H63; COINTEGRATION;
D O I：
10.1080/13504851.2014.987913
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
We assess the sustainability of public finances in OECD countries using panel unit root and cointegration analyses. Results show no cointegration (no sustainability) between revenues and expenditures, improvement of the primary balances after worsening debt ratios and causality from government debt to primary balances.
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页码：925 / 929
页数：5
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