Assessing long-term fiscal developments : a new approach
Autor(a) principal: | |
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Data de Publicação: | 2009 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.5/2157 |
Resumo: | We use a new approach to assess long-term fiscal developments. By analyzing the time varying behaviour of the two components of government spending and revenue -responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate recursively these components within a system of government revenue and spending equations using a Three-Stage Least Square method. In this way we track fiscal developments, i.e. possible fiscal deteriorations and/or improvements for eight European Union countries plus the US. Results suggest that positions have not significantly changed for Finland, France, Germany, Spain, the United Kingdom and the US, whilst they have improved for Belgium, Italy, and the Netherlands. |
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Assessing long-term fiscal developments : a new approachFiscal DeteriorationFiscal SustainabilityWe use a new approach to assess long-term fiscal developments. By analyzing the time varying behaviour of the two components of government spending and revenue -responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate recursively these components within a system of government revenue and spending equations using a Three-Stage Least Square method. In this way we track fiscal developments, i.e. possible fiscal deteriorations and/or improvements for eight European Union countries plus the US. Results suggest that positions have not significantly changed for Finland, France, Germany, Spain, the United Kingdom and the US, whilst they have improved for Belgium, Italy, and the Netherlands.European Central BankRepositório da Universidade de LisboaAfonso, AntónioAgnello, LucaFurceri, DavideSousa, Ricardo M.2010-06-23T09:52:42Z2009-032009-03-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2157engAfonso, António ... [et al.]. 2009. "Assessing long-term fiscal developments : a new approach". European Central Bank working paper series nº 1032-20091725-2806info:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-03-06T14:33:23Zoai:www.repository.utl.pt:10400.5/2157Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:50:13.555328Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Assessing long-term fiscal developments : a new approach |
title |
Assessing long-term fiscal developments : a new approach |
spellingShingle |
Assessing long-term fiscal developments : a new approach Afonso, António Fiscal Deterioration Fiscal Sustainability |
title_short |
Assessing long-term fiscal developments : a new approach |
title_full |
Assessing long-term fiscal developments : a new approach |
title_fullStr |
Assessing long-term fiscal developments : a new approach |
title_full_unstemmed |
Assessing long-term fiscal developments : a new approach |
title_sort |
Assessing long-term fiscal developments : a new approach |
author |
Afonso, António |
author_facet |
Afonso, António Agnello, Luca Furceri, Davide Sousa, Ricardo M. |
author_role |
author |
author2 |
Agnello, Luca Furceri, Davide Sousa, Ricardo M. |
author2_role |
author author author |
dc.contributor.none.fl_str_mv |
Repositório da Universidade de Lisboa |
dc.contributor.author.fl_str_mv |
Afonso, António Agnello, Luca Furceri, Davide Sousa, Ricardo M. |
dc.subject.por.fl_str_mv |
Fiscal Deterioration Fiscal Sustainability |
topic |
Fiscal Deterioration Fiscal Sustainability |
description |
We use a new approach to assess long-term fiscal developments. By analyzing the time varying behaviour of the two components of government spending and revenue -responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate recursively these components within a system of government revenue and spending equations using a Three-Stage Least Square method. In this way we track fiscal developments, i.e. possible fiscal deteriorations and/or improvements for eight European Union countries plus the US. Results suggest that positions have not significantly changed for Finland, France, Germany, Spain, the United Kingdom and the US, whilst they have improved for Belgium, Italy, and the Netherlands. |
publishDate |
2009 |
dc.date.none.fl_str_mv |
2009-03 2009-03-01T00:00:00Z 2010-06-23T09:52:42Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.5/2157 |
url |
http://hdl.handle.net/10400.5/2157 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
Afonso, António ... [et al.]. 2009. "Assessing long-term fiscal developments : a new approach". European Central Bank working paper series nº 1032-2009 1725-2806 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.publisher.none.fl_str_mv |
European Central Bank |
publisher.none.fl_str_mv |
European Central Bank |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799130977152270336 |