Autor(es):
Afonso, António 
; Jalles, João Tovar
Data: 2011
Identificador Persistente: http://hdl.handle.net/10400.5/3783
Origem: Repositório da UTL
Assunto(s): Fiscal regimes; Panel VAR; Cross-sectional dependence
Detalhes do Documento
Appraising fiscal reaction functions
Descrição
We estimate fiscal responses for an OECD panel, accounting for cross-country interactions, and also estimate the fiscal responses in a panel VAR. We find that governments have increased primary balances when facing higher government indebtedness, implying a Ricardian fiscal regime, while primary balances have improved to reduce government debt. These results hold for the single regression panel analysis and for the panel VAR.
We estimate fiscal responses for an OECD panel, accounting for cross-country interactions, and also estimate the fiscal responses in a panel VAR. We find that governments have increased primary balances when facing higher government indebtedness, implying a Ricardian fiscal regime, while primary balances have improved to reduce government debt. These results hold for the single regression panel analysis and for the panel VAR.
Tipo de Documento
Outro
Idioma Inglês
Idioma Inglês
| Financiadores do RCAAP | |||||||
|
|
|
|
|
|
||