Revisiting Fiscal Sustainability: Panel Cointegration and Structural Breaks in OECD Countries

Fiscal Multicointegration and Sustainability in OECD Economies

Fiscal Transparency and Fiscal Policy Outcomes in Oecd Countries

It is widely believed and often argued that budget process transparency has large, positive effects on fiscal performance. However, the evidence linking transparency and fiscal policy outcomes is far from compelling. We modify the "debt as precommitment" model of Alesina and Tabellini (1990) by allowing for budget inertia and reputational costs. These modest changes produce an equilibrium level...

Electricity Demand in MENA Countries: A Panel Cointegration Analysis

Abstract In this study, we applied recently developed panel unit root and cointegration techniques to examine the long-run real income per capita and price elasticities for demand of electricity in selected Middle East and North African (MENA) countries using an annual data series from 1990 to 2011.Our main finding from the panel analysis is that the demand for electricity is highly price ela...

Testing Fiscal Sustainability in Poland: A Bayesian Analysis of Cointegration

Fiscal Stringency and Fiscal Sustainability in the American States: Panel Evidence Fiscal Stringency and Fiscal Sustainability in the American States: Panel Evidence

Unlike the federal government, most state governments in the U.S. formally operate under statutory or constitutional constraints which limit their ability to run budget deficits and resort to debt financing. A priori, one would expect to find evidence in favor of an intertemporally balanced budget, or fiscal sustainability, among states, especially those that are characterized by a high degree ...