The elusive character of fiscal sustainability

Detalhes bibliográficos
Autor(a) principal: Afonso, António
Data de Publicação: 2016
Outros Autores: Jalles, João Tovar
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/25553
Resumo: We assess the sustainability of public finances in OECD countries using unit root and cointegration analysis, controlling for endogenous breaks. Results deem fiscal sustainability as rather elusive since we find lack of cointegration – absence of sustainability – between government revenues and expenditures (except for Austria, Canada, France, Germany, Japan, Netherlands, Sweden and UK); improvements of the primary balance after worsening debt ratios only for Australia, Belgium, Germany, Ireland, Netherlands and the UK; and Granger causality from government debt to primary balances for 12 countries (suggesting Ricardian regimes).
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spelling The elusive character of fiscal sustainabilityDebtPrimary BalanceFiscal RegimesStationarityBreaksCausalityDOLSWe assess the sustainability of public finances in OECD countries using unit root and cointegration analysis, controlling for endogenous breaks. Results deem fiscal sustainability as rather elusive since we find lack of cointegration – absence of sustainability – between government revenues and expenditures (except for Austria, Canada, France, Germany, Japan, Netherlands, Sweden and UK); improvements of the primary balance after worsening debt ratios only for Australia, Belgium, Germany, Ireland, Netherlands and the UK; and Granger causality from government debt to primary balances for 12 countries (suggesting Ricardian regimes).Taylor & Francis GroupRepositório da Universidade de LisboaAfonso, AntónioJalles, João Tovar2022-09-20T17:12:51Z20162016-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/25553engAfonso, António and João Tovar Jalles. (2016). "The elusive character of fiscal sustainability". Applied Economics, Vol. 48, No. 28: pp. 2651-2664.1466-4283 (Online)10.1080/00036846.2015.1128074info: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:RCAAP2023-03-06T14:55:07Zoai:www.repository.utl.pt:10400.5/25553Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T17:09:23.843867Repositório 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 The elusive character of fiscal sustainability
title The elusive character of fiscal sustainability
spellingShingle The elusive character of fiscal sustainability
Afonso, António
Debt
Primary Balance
Fiscal Regimes
Stationarity
Breaks
Causality
DOLS
title_short The elusive character of fiscal sustainability
title_full The elusive character of fiscal sustainability
title_fullStr The elusive character of fiscal sustainability
title_full_unstemmed The elusive character of fiscal sustainability
title_sort The elusive character of fiscal sustainability
author Afonso, António
author_facet Afonso, António
Jalles, João Tovar
author_role author
author2 Jalles, João Tovar
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Afonso, António
Jalles, João Tovar
dc.subject.por.fl_str_mv Debt
Primary Balance
Fiscal Regimes
Stationarity
Breaks
Causality
DOLS
topic Debt
Primary Balance
Fiscal Regimes
Stationarity
Breaks
Causality
DOLS
description We assess the sustainability of public finances in OECD countries using unit root and cointegration analysis, controlling for endogenous breaks. Results deem fiscal sustainability as rather elusive since we find lack of cointegration – absence of sustainability – between government revenues and expenditures (except for Austria, Canada, France, Germany, Japan, Netherlands, Sweden and UK); improvements of the primary balance after worsening debt ratios only for Australia, Belgium, Germany, Ireland, Netherlands and the UK; and Granger causality from government debt to primary balances for 12 countries (suggesting Ricardian regimes).
publishDate 2016
dc.date.none.fl_str_mv 2016
2016-01-01T00:00:00Z
2022-09-20T17:12:51Z
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/10400.5/25553
url http://hdl.handle.net/10400.5/25553
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Afonso, António and João Tovar Jalles. (2016). "The elusive character of fiscal sustainability". Applied Economics, Vol. 48, No. 28: pp. 2651-2664.
1466-4283 (Online)
10.1080/00036846.2015.1128074
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 Taylor & Francis Group
publisher.none.fl_str_mv Taylor & Francis Group
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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