The sustainability of fiscal policies in the European union

被引：2

作者：

Papadopoulos A.P. ^{[1
]}

Semropoulos M.G. ^{[2
]}

机构：

[1] Université Louis Pasteur, Bureau d'Economie Théorique et Appliquée

来源：

International Advances in Economic Research | 1999年 / 5卷 / 3期

关键词：

Economic Growth; International Economic; Unit Root; Fiscal Policy; Structural Break;

D O I：

10.1007/BF02296413

中图分类号：

学科分类号：

摘要：

This paper examines the stationarity of the inclusive-of-interest public deficit for five European Union economies, four of them being recently selected for entry into the European Monetary Union. Unit root tests are used not only to examine structural breaks and cointegration analysis, but also to investigate for regime shifts. They support the occurrence of sustainable deficits for the Greek, Spanish, and Portuguese economies. On the contrary, Italy and Belgium may incur unsustainable deficits, implying that their selection in Phase 2 of the European Monetary Union is questionable. (JEL E6, F15, H63).

引用

页码：289 / 307

页数：18

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