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Panel cointegration tests of the sustainability hypothesis in rich OECD countries


Westerlund, Joakim; Prohl, Silika


Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):http://nbn-resolving.de/urn:nbn:de:0168-ssoar-250140

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Abstract This study reexamines the sustainability hypothesis by testing whether government revenues and expenditures for eight rich OECD countries between 1977Q1 and 2005Q4 are cointegrated. For this purpose, a non-stationary panel data approach is adopted, which is general enough to permit for cross-country dependence as well as structural breaks representing major shifts in fiscal policy. In contrast to many earlier studies, the results reported in this study suggest that the sustainability hypothesis cannot be rejected.
Klassifikation Öffentliche Finanzen und Finanzwissenschaft; Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik
Freie Schlagwörter fiscal sustainability; panel cointegration; structural change
Sprache Dokument Englisch
Publikationsjahr 2010
Seitenangabe S. 1355-1364
Zeitschriftentitel Applied Economics, 42 (2010) 11
DOI http://dx.doi.org/10.1080/00036840701721323
Status Postprint; begutachtet (peer reviewed)
Lizenz PEER Licence Agreement (applicable only to documents from PEER project)