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dc.contributor.authorKirchgässner, Gebharden
dc.contributor.authorProhl, Silikaen
dc.date.accessioned2009-01-28T15:55:25Z-
dc.date.available2009-01-28T15:55:25Z-
dc.date.issued2006-
dc.identifier.urihttp://hdl.handle.net/10419/19153-
dc.description.abstractWe examine whether Swiss federal fiscal policy was sustainable over the period from 1900 to2002. 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. Wefind sustainability over the entire period. However, splitting the sample into two sub-samplesbefore 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 ofthe output and changes in expected inflation rate are major determinants of the federal budgetdeficit over the time period considered.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1689en
dc.subject.jelH63en
dc.subject.jelH62en
dc.subject.ddc330en
dc.subject.keywordsustainabilityen
dc.subject.keywordbudget deficiten
dc.subject.keywordcointegrationen
dc.subject.keywordstructural breaksen
dc.subject.stwAntizyklische Finanzpolitiken
dc.subject.stwHaushaltsdefiziten
dc.subject.stwHaushaltskonsolidierungen
dc.subject.stwSchätzungen
dc.subject.stwSchweizen
dc.titleSustainability of Swiss fiscal policy-
dc.typeWorking Paperen
dc.identifier.ppn51003750Xen
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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