This paper examines the presence of political cycles inside the Portuguese governments’ aggregate expenditures by using annual data for 10 expenditure components. The results indicate that the choice of the expenditure components to be increased during election periods by Portuguese...

This paper analyses the presence of duration dependence in Portuguese local governments’ tenure employing continuous and discrete-time duration analyses over a set of spells of time in office for the period 1979-2005. Our results show that the more time a party remains in office, the higher is...

Desde a década de 50 que um grupo de países tem vindo a evidenciar níveis de inflação elevados durante longos períodos de tempo sem que as necessárias medidas de estabilização sejam adoptadas com a devida celeridade. Essas medidas são muitas vezes adiadas, sendo os respectivos...

This paper explores the effect of financial development on the duration of economic recoveries, considering a sample of 414 economic recoveries observed in 67 countries during the period 1989-2019. We define the duration of economic recovery, as the time it takes the economy to return to its...

Whether the likelihood of credit booms ending is dependent on its age or not, or whether the respective behaviour is smooth or bumpy are important issues to which the economic literature has not given attention yet. This paper tries to fill that gap in the literature, exploring those issues with...

This paper assesses the determinants of the length of fiscal consolidation using annual data for 17 industrial countries over the period 1978-2009. Relying on a narrative approach to identify fiscal consolidation episodes, we show that fiscal variables (such as the budget deficit and the level...