equity and house price indices for a panel of 15 industrialized countries. Consumption, income and wealth are cointegrated in …

over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 …

panel of OECD countries consistent with these predictions. …

period 1973-2008. We employ a dynamic panel approach to reflect financial and economic integration, and to increase the … estimator of Pesaran (2006) and on Panel Error Correction Models to sort out short- and long-run fiscal developments show that …

univariate Augmented Dickey-Fuller test as well as its panel data version, developed in Im, Pesaran, and Shin (2003), to test for … null of no cointegration can be decisively rejected by applying the panel cointegration test of Pedroni (1999). The …

specific panel unit root test to investigate the mean-reverting behaviour of general government expenditures and revenues … ratios. Secondly, we apply the bootstrap panel cointegration techniques that account for the time series and cross … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …

been only a few analyses looking at this question empirically. The present study focuses on a panel of 27 transition and 20 … Western European countries between 1990 and 2006 and uses the latest developments in panel unit root and cointegration testing …