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dc.contributor.authorFan, Jingwenen_US
dc.contributor.authorArghyrou, Michael G.en_US
dc.date.accessioned2011-04-04en_US
dc.date.accessioned2012-11-02T14:27:03Z-
dc.date.available2012-11-02T14:27:03Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/65740-
dc.description.abstractWe test for fiscal policy sustainability in the UK for the period 1955-2006. We find evidence of sustainability with three structural breaks, respectively occurring in the early 1970s, early 1980s and late 1990s. UK fiscal policy has been sustainable throughout the sample period except from 1973-1981 when a non-Ricardian regime applied. For the remaining periods correction of fiscal disequilibrium occurs through adjustments in public revenue rather than expenditure. Finally, we find evidence of non-linear fiscal adjustment, with UK authorities not reacting to relatively small deficits; but correcting exceedingly large deficits and any temporary surpluses relatively fast.en_US
dc.language.isoengen_US
dc.publisherCardiff Univ, Cardiff Business School, Economics Section Cardiffen_US
dc.relation.ispartofseriesCardiff Economics Working Papers E2011/9en_US
dc.subject.jelE62en_US
dc.subject.jelH60en_US
dc.subject.ddc330en_US
dc.subject.keywordFiscal policyen_US
dc.subject.keywordSustainabilityen_US
dc.subject.keywordUKen_US
dc.subject.keywordStructural breaksen_US
dc.subject.keywordNon-linear adjustmenten_US
dc.subject.stwÖffentliche Finanzwirtschaften_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwNachhaltigkeiten_US
dc.subject.stwGroßbritannienen_US
dc.titleUK fiscal policy sustainability, 1955 - 2006en_US
dc.typeWorking Paperen_US
dc.identifier.ppn655552774en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
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