Author(s):
Afonso, António 
; Sousa, Ricardo M.
Date: 2009
Persistent ID: http://hdl.handle.net/10400.5/2534
Origin: Repositório da UTL
Subject(s): Fiscal deterioration; Portugal
Document details
Assessing Long-Term Fiscal Developm ents: Evidence from Portugal
Description
Drawing on quarterly data for Portugal, we use a Three-Stage Least Square method and a system of equations to recursively estimate two components of fiscal policy -responsiveness and persistence - and to infer about the sources of fiscal deterioration (improvement). The results suggest that: (i) government spending exhibits higher persistence than government revenue; and (ii) government revenue is more responsive to the business cycle than government spending.
Drawing on quarterly data for Portugal, we use a Three-Stage Least Square method and a system of equations to recursively estimate two components of fiscal policy -responsiveness and persistence - and to infer about the sources of fiscal deterioration (improvement). The results suggest that: (i) government spending exhibits higher persistence than government revenue; and (ii) government revenue is more responsive to the business cycle than government spending.
Document Type
Other
Language English
Language English
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