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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2130

Title: Ricardian fiscal regimes in the European Union
Authors: Afonso, António
Keywords: fiscal regimes
European Union
panel data models
Issue Date: Nov-2005
Publisher: European Central Bank
Citation: Afonso, António. 2005. "Ricardian fiscal regimes in the European Union". European Central Bank working paper series nº 558-2005
Series/Report no.: European Central Bank working paper series;nº 558-2005
Abstract: The prevalence of either Ricardian or non-Ricardian fiscal regimes is important both for practical policy reasons and to assess fiscal sustainability, and this is of particular relevance for European Union countries. The purpose of this paper is to assess, with a panel data set, the empirical evidence concerning the existence of Ricardian fiscal regimes in EU-15 countries. The results give support to the Ricardian fiscal regime hypothesis throughout the sample period, and for sub-samples accounting for the dates of the Maastricht Treaty and for the setting-up of the Stability and Growth Pact. Additionally, electoral budget cycles also seem to play a role in fiscal behaviour.
URI: http://hdl.handle.net/10400.5/2130
ISSN: 1725-2806
Publisher version: http://www.ecb.int/pub/pdf/scpwps/ecbwp558.pdf
Appears in Collections:DE - Documentos de trabalho / Working Papers

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