Goulas, Eleftherios; Zervoyianni, Athina - In: The Quarterly Review of Economics and Finance 53 (2013) 4, pp. 380-392
We examine the relationship between fiscal deficits and per-capita income growth in a panel of 27 European countries, allowing for perceived risks, in terms of fiscal sustainability, associated with additional government spending. Such risks are proxied by the conditional variability of...