Utilize este identificador para referenciar este registo:
https://hdl.handle.net/10316/11764
Título: | Sustainability of Portuguese Fiscal Policy in Historical Perspective | Autor: | Marinheiro, Carlos F. | Palavras-chave: | Fiscal sustainability; Sustainability of public debt; Intertemporal budget constraint; Government deficits and debt; Portugal | Data: | 2005 | Editora: | FEUC. Grupo de Estudos Monetários e Financeiros | Citação: | Estudos do GEMF. 1 (2005) | Resumo: | 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 recent 1975-2003 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. | URI: | https://hdl.handle.net/10316/11764 | Direitos: | openAccess |
Aparece nas coleções: | FEUC- Vários |
Ficheiros deste registo:
Ficheiro | Descrição | Tamanho | Formato | |
---|---|---|---|---|
Sustainability of Portuguese Fiscal Policy.pdf | 550.73 kB | Adobe PDF | Ver/Abrir |
Visualizações de página 50
447
Visto em 25/set/2024
Downloads
295
Visto em 25/set/2024
Google ScholarTM
Verificar
Todos os registos no repositório estão protegidos por leis de copyright, com todos os direitos reservados.