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dc.contributor.authorKirchgässner, Gebharden_US
dc.contributor.authorProhl, Silikaen_US
dc.coverage.temporal1900-2002en_US
dc.date.accessioned2009-01-28T15:55:25Z-
dc.date.available2009-01-28T15:55:25Z-
dc.date.issued2006en_US
dc.identifier.urihttp://hdl.handle.net/10419/19153-
dc.description.abstractWe examine whether Swiss federal fiscal policy was sustainable over the period from 1900 to 2002. We perform unit root and cointegration tests for federal revenues and expenditures, taking into account a structural shift in the budgetary process related to World War II. We find sustainability over the entire period. However, splitting the sample into two sub-samples before and after World War II, the results do much less support sustainability. Finally, applying the tax smoothing model of BARRO (1979), we show that cyclical fluctuations of the output and changes in expected inflation rate are major determinants of the federal budget deficit over the time period considered.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesCESifo working papers 1689en_US
dc.subject.jelH63en_US
dc.subject.jelH62en_US
dc.subject.ddc330en_US
dc.subject.keywordsustainabilityen_US
dc.subject.keywordbudget deficiten_US
dc.subject.keywordcointegrationen_US
dc.subject.keywordstructural breaksen_US
dc.subject.stwAntizyklische Finanzpolitiken_US
dc.subject.stwHaushaltsdefiziten_US
dc.subject.stwHaushaltskonsolidierungen_US
dc.subject.stwSchätzungen_US
dc.subject.stwSchweizen_US
dc.titleSustainability of Swiss fiscal policyen_US
dc.typeWorking Paperen_US
dc.identifier.ppn51003750Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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