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Panel cointegration tests of the sustainability hypothesis in rich OECD countries
[journal article]
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... view more
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.... view less
Classification
Economic Statistics, Econometrics, Business Informatics
Public Finance
Free Keywords
fiscal sustainability; panel cointegration; structural change
Document language
English
Publication Year
2010
Page/Pages
p. 1355-1364
Journal
Applied Economics, 42 (2010) 11
DOI
https://doi.org/10.1080/00036840701721323
Status
Postprint; peer reviewed
Licence
PEER Licence Agreement (applicable only to documents from PEER project)