Panel cointegration tests on the fiscal sustainability of German Laender

Heiko T. Burret; Lars P. Feld; Ekkehard A. Köhler

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 sub-panels improves the robustness of panel cointegration tests and reveals that Laender finances are hardly sustainable.

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Year of publication:	2014
Authors:	Burret, Heiko T. ; Feld, Lars P. ; Köhler, Ekkehard A.
Publisher:	München : CESifo
Subject:	fiscal sustainability \| federalism \| unit root \| panel cointegration \| Kointegration \| Cointegration \| Deutschland \| Germany \| Panel \| Panel study \| Finanzpolitik \| Fiscal policy \| Einheitswurzeltest \| Unit root test \| Schätzung \| Estimation \| Nachhaltigkeit \| Sustainability \| Öffentliche Schulden \| Public debt \| OECD-Staaten \| OECD countries

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Extent:	Online-Ressource ([1], 24 S.) graph. Darst., Kt.
Series:	CESifo working papers. - München : [Verlag nicht ermittelbar], ISSN 2364-1428, ZDB-ID 2065232-X. - Vol. 4929
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/102241 [Handle]
Classification:	H62 - Deficit; Surplus ; H77 - Intergovernmental Relations; Federalism ; H72 - State and Local Budget and Expenditures
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10010388585