Utilize este identificador para referenciar este registo: http://hdl.handle.net/10400.5/2698
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: 2009
Editora: ISEG - Departamento de Economia
Citação: Afonso, António... [et al.]. 2009. "Assessing long-term fiscal developments : a new approach". Instituto Superior de Economia e Gestão - DE Working papers nº19-2009/DE/UECE
Relatório da Série N.º: DE Working papers nº19-2009/DE/UECE;
Resumo: We use a new approach to assess long-term fiscal developments. By analyzing the timevarying 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/10400.5/2698
ISSN: 0874-4548
Aparece nas colecções:DE - Documentos de trabalho / Working Papers
UECE - Documentos de Trabalho / UECE - Working Papers
UECE - Documentos de Trabalho / UECE - Working Papers

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