Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/18763
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dc.contributor.authorMarinheiro, Carlos Jose Fonsecaen_US
dc.date.accessioned2009-01-28T15:52:42Z-
dc.date.available2009-01-28T15:52:42Z-
dc.date.issued2005en_US
dc.identifier.urihttp://hdl.handle.net/10419/18763-
dc.description.abstractThis paper analyses the sustainability of Portuguese public finances, making use of a long dataset with more than a full century of observations. The use of such a long dataset is appropriate because both unit root and cointegration tests require a long period of data. The sustainability testing procedure is based on unit root and cointegration tests. We find considerable evidence in favour of sustainability for the 1903-2003 period. The overall conclusion of sustainability for the 1903-2003 period is not maintained for the more recent1975-2003 period, which is characterised by the largest GDP deficit ratios of our sample. This latter period appears to signal a shift to an unsustainable path in Portuguese fiscal policy. Hence, our results suggest that fiscal consolidation efforts must, in fact, be continued in Portugal.en_US
dc.language.isoengen_US
dc.publisher|aCenter for Economic Studies and Ifo Institute (CESifo) |cMunich-
dc.relation.ispartofseries|aCESifo Working Paper |x1399en_US
dc.subject.jelH60en_US
dc.subject.jelE60en_US
dc.subject.ddc330en_US
dc.subject.keywordfiscal sustainabilityen_US
dc.subject.keywordsustainability of public debten_US
dc.subject.keywordintertemporal budget constrainten_US
dc.subject.keywordgovernment deficits and debten_US
dc.subject.keywordPortugalen_US
dc.subject.stwFinanzpolitiken_US
dc.subject.stwHaushaltsdefiziten_US
dc.subject.stwÖffentliche Schuldenen_US
dc.subject.stwVerschuldungsrestriktionen_US
dc.subject.stwSchätzungen_US
dc.subject.stwPortugalen_US
dc.titleSustainability of Portuguese fiscal policy in historical perspectiveen_US
dc.typeWorking Paperen_US
dc.identifier.ppn479301638en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-

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