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What We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic.

Afonso, António; Rault, Christophe - ISEG - School of Economics and Management, Department … - 2007

We assess the sustainability of public finances in the EU15 over the period 1970-2006 using stationarity and … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006). …

Persistent link: https://www.econbiz.de/10005593005

Euler Testing Ricardo and Barro in the EUs

Afonso, António - ISEG - School of Economics and Management, Department … - 2008

, indicate that it would be wise to reject the debt neutrality hypothesis for the EU and that higher government indebtedness …

Persistent link: https://www.econbiz.de/10005593009

Business Cycle Synchronization and Insurance Mechanisms in the EU

Afonso, António; Furceri, Davide - ISEG - School of Economics and Management, Department … - 2007

In this paper we provide a positive exercise on past business-cycle correlations and risk sharing in the European Union, and on the ability of insurance mechanisms and fiscal policies to smooth income fluctuations. The results suggest in particular that while some of the new Member States have...

Persistent link: https://www.econbiz.de/10005593059

Bootstrap Panel Granger-Causality Between Government Spending and Revenue

Afonso, António; Rault, Cristophe - ISEG - School of Economics and Management, Department … - 2008

, we study the causality between government revenue and spending for the EU in the period 1960-2006. Spend …, Austria Finland and the UK, and for several EU New Member States. …

Persistent link: https://www.econbiz.de/10005463734

3-Step Analysis of Public Finances Sustainability: the Case of the European Union

Afonso, António; Rault, Christophe - CESifo - 2008

We use a 3-step analysis to assess the sustainability of public finances in the EU27. Firstly, we perform the SURADF … and revenues via SUR analysis. While results imply that public finances were not unsustainable for the EU panel, fiscal …

Persistent link: https://www.econbiz.de/10005406275

What do we really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic

Afonso, António; Rault, Christophe - CESifo - 2008

We assess the sustainability of public finances in the EU15 using stationarity and cointegration analysis. Specifically … revenues. While sustainability may be lacking in individual cases, fiscal policy was overall sustainable both for the EU15 …

Persistent link: https://www.econbiz.de/10005416479

What do we really know about fiscal sustainability in the EU? A panel data diagnostic

Afonso, António; Rault, Christophe - European Central Bank - 2007

Persistent link: https://www.econbiz.de/10005222321

Bootstrap Panel Granger-Causality Between Government Budget and External Deficits for the EU

Afonso, António; Rault, Christophe - ISEG - School of Economics and Management, Department … - 2009

period 1970-2007, for different EU and OECD country groupings. We use a panel-data approach based on SUR systems and Wald … account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France, Italy, Hungary, Lithuania …

Persistent link: https://www.econbiz.de/10005184983

Bootstrap Panel Granger-Causality between Government Budget and External Deficits for the EU

Afonso, António; Rault, Christophe - CESifo - 2009

period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based … budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France …

Persistent link: https://www.econbiz.de/10005051497

3-Step Analysis of Public Finances Sustainability: the Case of the European Union

Afonso, António; Rault, Christophe - ISEG - School of Economics and Management, Department … - 2008

Persistent link: https://www.econbiz.de/10005628443