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dc.contributor.authorMarinheiro, Carlos Jose Fonsecaen
dc.date.accessioned2009-01-28T15:52:42Z-
dc.date.available2009-01-28T15:52:42Z-
dc.date.issued2005-
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
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x1399en
dc.subject.jelH60en
dc.subject.jelE60en
dc.subject.ddc330en
dc.subject.keywordfiscal sustainabilityen
dc.subject.keywordsustainability of public debten
dc.subject.keywordintertemporal budget constrainten
dc.subject.keywordgovernment deficits and debten
dc.subject.keywordPortugalen
dc.subject.stwFinanzpolitiken
dc.subject.stwHaushaltsdefiziten
dc.subject.stwÖffentliche Schuldenen
dc.subject.stwVerschuldungsrestriktionen
dc.subject.stwSchätzungen
dc.subject.stwPortugalen
dc.titleSustainability of Portuguese fiscal policy in historical perspective-
dc.typeWorking Paperen
dc.identifier.ppn479301638en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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