US DEFICIT SUSTAINABILITY REVISITED: A MULTIPLE STRUCTURAL CHANGE APPROACH

. In this paper we re-examine the long-run sustainability of US budget de…cits, using Bai and Perron’s multiple structural change approach. While the de…cit would have been weakly sustainable over the full sample (1947:1-2004:3), strong sustainability would appear only between 1982:1 and 1995:4.

MoreLess

Authors:	Bajo-Rubio, Óscar ; Díaz-Roldán, Carmen ; Esteve, Vicente
Institutions:	Instituto de Estudios Fiscales, Ministerio de Economía y Competitividad
Subject:	Fiscal policy \| Sustainability \| US budget de…cit

More details

Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	Number 19-05 Classification-JEL : E62, H62.
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005190384