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Please use this identifier to cite or link to this item: http://hdl.handle.net/10400.5/2755

Title: Fiscal policy sustainability: some unpleasant European evidence
Authors: Afonso, António
Keywords: Deficit finance
inter-temporal budget constraint
fiscal policy sustainability
Euro area
Issue Date: 2000
Publisher: ISEG – Departamento de Economia
Citation: Afonso, António. 2000. "Fiscal policy sustainability: some unpleasant European evidence". Instituto Superior de Economia e Gestão - DE Working papers nº 12-2000/DE/CISEP
Series/Report no.: DE Working papers;nº 12-2000/DE/CISEP
Abstract: The sustainability of fiscal deficits has been receiving increasing attention from economists. The issue is paramount for the newly formed Euro area and this is one of the motivations of the paper. In order to assess the sustainability of budget deficits in the Euro area, stationarity tests for the stock of public debt and co-integration tests between public expenditures and public revenues are performed for the Euro countries for the 1968-1997 period. The empirical results allow us to conclude that fiscal policy may not be sustainable for most countries with the possible exceptions of Germany, Austria and the Netherlands.
URI: http://hdl.handle.net/10400.5/2755
ISSN: 0874-4548
Publisher version: https://aquila1.iseg.utl.pt/aquila/getFile.do?method=getFile&fileId=23812
Appears in Collections:CISEP - Documentos de Trabalho / CISEP - Working Papers
DE - Documentos de trabalho / Working Papers

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