Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/102241
Authors: 
Burret, Heiko T.
Feld, Lars P.
Köhler, Ekkehard A.
Year of Publication: 
2014
Series/Report no.: 
CESifo Working Paper 4929
Abstract: 
This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a newly compiled database covering the years 1950]2011. Unlike previous studies on Germany, we analyze fiscal sustainability by applying gsecond generationh panel cointegration techniques. A unique identification strategy for the selection of sub]panels improves the robustness of panel cointegration tests and reveals that Laender finances are hardly sustainable.
Subjects: 
fiscal sustainability
federalism
unit root
panel cointegration
JEL: 
H62
H77
H72
Document Type: 
Working Paper

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