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|Title: ||Assessing long-term fiscal developments : a new approach|
|Authors: ||Afonso, António|
Sousa, Ricardo M.
|Keywords: ||Fiscal deterioration|
|Issue Date: ||2009|
|Publisher: ||ISEG - Departamento de Economia|
|Citation: ||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|
|Series/Report no.: ||DE Working papers nº19-2009/DE/UECE;|
|Abstract: ||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.|
|Appears in Collections:||UECE - Documentos de Trabalho / UECE - Working Papers|
UECE - Documentos de Trabalho / UECE - Working Papers
DE - Documentos de trabalho / Working Papers
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