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https://hdl.handle.net/10419/18763
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Marinheiro, Carlos Jose Fonseca | en |
dc.date.accessioned | 2009-01-28T15:52:42Z | - |
dc.date.available | 2009-01-28T15:52:42Z | - |
dc.date.issued | 2005 | - |
dc.identifier.uri | http://hdl.handle.net/10419/18763 | - |
dc.description.abstract | This 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 |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x1399 | en |
dc.subject.jel | H60 | en |
dc.subject.jel | E60 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | fiscal sustainability | en |
dc.subject.keyword | sustainability of public debt | en |
dc.subject.keyword | intertemporal budget constraint | en |
dc.subject.keyword | government deficits and debt | en |
dc.subject.keyword | Portugal | en |
dc.subject.stw | Finanzpolitik | en |
dc.subject.stw | Haushaltsdefizit | en |
dc.subject.stw | Öffentliche Schulden | en |
dc.subject.stw | Verschuldungsrestriktion | en |
dc.subject.stw | Schätzung | en |
dc.subject.stw | Portugal | en |
dc.title | Sustainability of Portuguese fiscal policy in historical perspective | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 479301638 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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