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

Detalhes bibliográficos
Autor(a) principal: Afonso, António
Data de Publicação: 2009
Outros Autores: Rault, Christophe
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: http://hdl.handle.net/10400.5/2533
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 EUPanel Causality TestsBudget DeficitExternal ImbalanceReal Exchange RatesEUOECDWe 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.ISEG – Departamento de EconomiaRepositório da Universidade de LisboaAfonso, AntónioRault, Christophe2010-11-19T11:27:48Z20092009-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.5/2533engAfonso, António, Christophe Rault. 2009. "Bootstrap panel Granger-causality between government budget and external deficits for the EU". Instituto Superior de Economia e Gestão - DE Working papers nº 2-2009/DE/UECE0874-4548info: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:RCAAP2023-03-06T14:33:43Zoai:www.repository.utl.pt:10400.5/2533Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T16:50:31.993489Repositório 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
Afonso, António
Panel Causality Tests
Budget Deficit
External Imbalance
Real Exchange Rates
EU
OECD
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 Afonso, António
author_facet Afonso, António
Rault, Christophe
author_role author
author2 Rault, Christophe
author2_role author
dc.contributor.none.fl_str_mv Repositório da Universidade de Lisboa
dc.contributor.author.fl_str_mv Afonso, António
Rault, Christophe
dc.subject.por.fl_str_mv Panel Causality Tests
Budget Deficit
External Imbalance
Real Exchange Rates
EU
OECD
topic Panel Causality Tests
Budget Deficit
External Imbalance
Real Exchange Rates
EU
OECD
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
2010-11-19T11:27:48Z
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/10400.5/2533
url http://hdl.handle.net/10400.5/2533
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv Afonso, António, Christophe Rault. 2009. "Bootstrap panel Granger-causality between government budget and external deficits for the EU". Instituto Superior de Economia e Gestão - DE Working papers nº 2-2009/DE/UECE
0874-4548
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 ISEG – Departamento de Economia
publisher.none.fl_str_mv ISEG – Departamento de Economia
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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