Panel cointegration tests of the sustainability hypothesis in rich OECD countries
Författare
Summary, in English
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 nonstationary 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.
Avdelning/ar
Publiceringsår
2010
Språk
Engelska
Sidor
1355-1364
Publikation/Tidskrift/Serie
Applied Economics
Volym
42
Issue
11
Dokumenttyp
Artikel i tidskrift
Förlag
Routledge
Ämne
- Business Administration
Status
Published
ISBN/ISSN/Övrigt
- ISSN: 1466-4283