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Fiscal and current account imbalances : the cases of Germany and Portugal
Afonso, António; Coelho, José Carlos - 2021
and Germany. We find that the response of the current account balance to the budget balance is greater in Portugal than in … Germany. On the other hand, the response of the budget balance to the current balance is higher in Germany than in Portugal …. In Portugal and Germany, a fiscal rules index has a negative impact on the current account balance and the government …
Persistent link: https://www.econbiz.de/10014293956
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The role of fiscal policies for external imbalances : evidence from the European Union
Afonso, António; Coelho, José Carlos - 2021
We revisit the relation between budget deficits and current account deficits for 28 European Union countries from 1996 to 2019. We find that an increase in budget deficit of 1 pp of GDP results in a deterioration of the current account deficit of 0.318 pp of GDP, which supports the Twin Deficits...
Persistent link: https://www.econbiz.de/10012504606
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The role of fiscal policies for external imbalances : evidence from the European Union
Afonso, António; Coelho, José Carlos - In: Economic systems 46 (2022) 2, pp. 1-15
Persistent link: https://www.econbiz.de/10013429384
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60 %, -4 % and 6 %, a tale of thresholds for EU fiscal and current account developments
Afonso, António; Coelho, José Carlos - 2021
We study the relationship between the budget balance and the current account balance for European Union(EU) countries, using quarterly data from1995 to2020. Through the use of panel Granger causality tests and a panel SUR model, we conclude that the relationship is bi-directional for the EU...
Persistent link: https://www.econbiz.de/10012649364
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Twin deficits revisited : a role for fiscal institutions?
Afonso, António; Huart, Florence; Jalles, João Tovar; … - In: Journal of international money and finance 121 (2022), pp. 1-22
Persistent link: https://www.econbiz.de/10013433242
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Current account targeting hypothesis versus twin deficit hypothesis : the EMU experience of Portugal
Afonso, António; Coelho, José Carlos - 2021
We study the relationship between the government budget balance and the current account balance for Portugal, using …
Persistent link: https://www.econbiz.de/10012595472
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The nexus between fiscal and current account imbalances in OECD economies
Afonso, António; Opoku, Philemon Kwame - In: Applied economics 55 (2023) 13, pp. 1389-1406
Persistent link: https://www.econbiz.de/10013554920
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The Relationship Between Fiscal and Current Account Imbalances in OECD Economies
Afonso, António - 2018
This study re-examines the nexus between the fiscal balance and the current account balance for 18 OECD countries for the period 1995Q1 to 2018Q1 using panel cointegration, and panel vector autoregressive (VAR) methods. Our results indicate that a strengthening in the fiscal balance by one...
Persistent link: https://www.econbiz.de/10012907294
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The relevance of fiscal rules for fiscal and sovereign yield developments
Afonso, António; Guimarães, Ana Sofia - In: Applied economics letters 22 (2015) 10/12, pp. 920-924
Persistent link: https://www.econbiz.de/10011286013
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Stock flow adjustments in sovereign debt dynamics : the role of fiscal frameworks
Afonso, António; Jalles, João Tovar - In: International review of economics & finance : IREF 65 (2020), pp. 1-16
Persistent link: https://www.econbiz.de/10012384754