Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/26591 
Kompletter Metadatensatz
Erscheint in der Sammlung:
DublinCore-FeldWertSprache
dc.contributor.authorBayar, Alien
dc.contributor.authorSmeets, Bramen
dc.date.accessioned2009-03-03-
dc.date.accessioned2009-07-28T08:48:41Z-
dc.date.available2009-07-28T08:48:41Z-
dc.date.issued2009-
dc.identifier.urihttp://hdl.handle.net/10419/26591-
dc.description.abstractThis paper formulates a dynamic Random Coefficient Model (RCM) to consider a set of popular determinants of public deficits in the EU-15 over the period 1971-2006, both at a country-specific level and from a population-wide perspective. Although the extent of government deficits and debt has been one of the most debated macroeconomic issues in recent times, the models trying to capture the explanatory powers driving these deficits typically estimate models that pose the strict assumption of homogeneity on the coefficients over all countries in the model. The sensibility of this assumption will be investigated, with results showing that an increase in the degree of heterogeneity leads to an improvement in the model fit and provides additional information to nuance the effects of the explanatory variables. In this way, the paper exposes a limited degree of partisanship over all countries under consideration, but on the other hand provides evidence for opportunistic behaviour of policymakers in the major part of the sample. The effect of institutional changes following the enforcement of the Maastricht Treaty varies over the countries and is related to the necessity of budgetary consolidation.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x2546en
dc.subject.jelC11en
dc.subject.jelE6en
dc.subject.jelH6en
dc.subject.jelH87en
dc.subject.ddc330en
dc.subject.keywordFiscal policyen
dc.subject.keywordEuropean Monetary Unionen
dc.subject.keywordRandom coefficient modelen
dc.subject.keywordBayesian analysisen
dc.subject.stwFinanzpolitiken
dc.subject.stwHaushaltsdefiziten
dc.subject.stwPublic Choiceen
dc.subject.stwEuropäische Wirtschafts- und Währungsunionen
dc.subject.stwKonvergenzkriterienen
dc.subject.stwZustandsraummodellen
dc.subject.stwSchätzungen
dc.subject.stwEU-Staatenen
dc.titleEconomic and political determinants of budget deficits in the European Union: a dynamic random coefficient approach-
dc.typeWorking Paperen
dc.identifier.ppn592855805en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Datei(en):
Datei
Größe
316.1 kB





Publikationen in EconStor sind urheberrechtlich geschützt.