Bootstrap panel Granger-causality between government budget and external deficits for the EU

Detalhes bibliográficos
Autor(a) principal: Rault, Christophe
Data de Publicação: 2009
Outros Autores: Afonso, António
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/25655
Resumo: We investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use a panel-data approach based on SUR systems and Wald tests with country specific bootstrap critical values. Our results show a causal relation from budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France, Italy, Hungary, Lithuania, Poland, and Slovakia, along the lines of the so-called twin-deficit relationship. Considering the effective real exchange rate in the SUR system does not substantially alter the results.
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spelling Bootstrap panel Granger-causality between government budget and external deficits for the EUGranger-CausalityBudget BalancesEUOECDPanel DataWe investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use a panel-data approach based on SUR systems and Wald tests with country specific bootstrap critical values. Our results show a causal relation from budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France, Italy, Hungary, Lithuania, Poland, and Slovakia, along the lines of the so-called twin-deficit relationship. Considering the effective real exchange rate in the SUR system does not substantially alter the results.Economics BulletinRepositório da Universidade de LisboaRault, ChristopheAfonso, António2022-10-03T15:41:08Z20092009-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/25655engRault, Christophe and António Afonso.(2009). "Bootstrap panel Granger-causality between government budget and external deficits for the EU". Economics Bulletin, Vol. 29, No. 2: pp. 1027-1034.info: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:RCAAP2023-03-06T14:55:12Zoai:www.repository.utl.pt:10400.5/25655Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:09:27.919073Repositório 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 Bootstrap panel Granger-causality between government budget and external deficits for the EU
title Bootstrap panel Granger-causality between government budget and external deficits for the EU
spellingShingle Bootstrap panel Granger-causality between government budget and external deficits for the EU
Rault, Christophe
Granger-Causality
Budget Balances
EU
OECD
Panel Data
title_short Bootstrap panel Granger-causality between government budget and external deficits for the EU
title_full Bootstrap panel Granger-causality between government budget and external deficits for the EU
title_fullStr Bootstrap panel Granger-causality between government budget and external deficits for the EU
title_full_unstemmed Bootstrap panel Granger-causality between government budget and external deficits for the EU
title_sort Bootstrap panel Granger-causality between government budget and external deficits for the EU
author Rault, Christophe
author_facet Rault, Christophe
Afonso, António
author_role author
author2 Afonso, António
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Rault, Christophe
Afonso, António
dc.subject.por.fl_str_mv Granger-Causality
Budget Balances
EU
OECD
Panel Data
topic Granger-Causality
Budget Balances
EU
OECD
Panel Data
description We investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use a panel-data approach based on SUR systems and Wald tests with country specific bootstrap critical values. Our results show a causal relation from budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France, Italy, Hungary, Lithuania, Poland, and Slovakia, along the lines of the so-called twin-deficit relationship. Considering the effective real exchange rate in the SUR system does not substantially alter the results.
publishDate 2009
dc.date.none.fl_str_mv 2009
2009-01-01T00:00:00Z
2022-10-03T15:41:08Z
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/10400.5/25655
url http://hdl.handle.net/10400.5/25655
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Rault, Christophe and António Afonso.(2009). "Bootstrap panel Granger-causality between government budget and external deficits for the EU". Economics Bulletin, Vol. 29, No. 2: pp. 1027-1034.
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 Economics Bulletin
publisher.none.fl_str_mv Economics Bulletin
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
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