Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/185958 
Authors: 
Year of Publication: 
2010
Citation: 
[Journal:] Swiss Journal of Economics and Statistics [ISSN:] 2235-6282 [Volume:] 146 [Issue:] 2 [Publisher:] Springer [Place:] Heidelberg [Year:] 2010 [Pages:] 481-506
Publisher: 
Springer, Heidelberg
Abstract: 
This paper examines the causality between the Swiss federal governments revenue and expenditure over the 1900 to 2002 period by estimating the short- and longrun relation within an error-correction approach that places more emphasis on the long-run relation as a source of the causal link. The results suggest both that the fiscal policy is consistent with the governmental budget constraint - revenue and expenditure are cointegrated, and revenue cause expenditure and vice versa. There is also evidence that World War II had a significant impact on the stability of the cointegrating relation between revenue and expenditure.
Subjects: 
Budget Deficit
Cointegration
JEL: 
C22
C23
H60
Persistent Identifier of the first edition: 
Creative Commons License: 
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Document Type: 
Article

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