Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/2157
Título: Assessing long-term fiscal developments : a new approach
Autor: Afonso, António
Agnello, Luca
Furceri, Davide
Sousa, Ricardo M.
Palavras-chave: Fiscal Deterioration
Fiscal Sustainability
Data: Mar-2009
Editora: European Central Bank
Citação: Afonso, António ... [et al.]. 2009. "Assessing long-term fiscal developments : a new approach". European Central Bank working paper series nº 1032-2009
Relatório da Série N.º: European Central Bank working paper series;nº 1032-2009
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.
URI: http://hdl.handle.net/10400.5/2157
ISSN: 1725-2806
Versão do Editor: http://www.ecb.int/pub/pdf/scpwps/ecbwp1032.pdf
Aparece nas colecções:DE - Documentos de trabalho / Working Papers

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