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Panel cointegration tests of the sustainability hypothesis in rich OECD countries

Westerlund, Joakim and Prohl, Silika 2010, Panel cointegration tests of the sustainability hypothesis in rich OECD countries, Applied economics, vol. 42, no. 11, pp. 1355-1364, doi: 10.1080/00036840701721323.

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Title Panel cointegration tests of the sustainability hypothesis in rich OECD countries
Author(s) Westerlund, Joakim
Prohl, Silika
Journal name Applied economics
Volume number 42
Issue number 11
Start page 1355
End page 1364
Total pages 10
Publisher Routledge
Place of publication Abingdon, Eng.
Publication date 2010-04
ISSN 0003-6846
1466-4283
Keyword(s) Social Sciences
Economics
Business & Economics
INTERTEMPORAL BUDGET CONSTRAINT
DEFICITS
BREAKS
DEBT
Summary This study reexamines the sustainability hypothesis by testing whether government revenues and expenditures for eight rich OECD countries between 1977Q1 and 2005Q4 are cointegrated. For this purpose, a nonstationary panel data approach is adopted, which is general enough to permit for cross-country dependence as well as structural breaks representing major shifts in fiscal policy. In contrast to many earlier studies, the results reported in this study suggest that the sustainability hypothesis cannot be rejected. © 2010 Taylor & Francis.
Language eng
DOI 10.1080/00036840701721323
Field of Research 150202 Financial Econometrics
Socio Economic Objective 919999 Economic Framework not elsewhere classified
HERDC Research category C1.1 Refereed article in a scholarly journal
ERA Research output type C Journal article
Copyright notice ©2010, Taylor & Francis
Persistent URL http://hdl.handle.net/10536/DRO/DU:30077834

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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Citation counts: TR Web of Science Citation Count  Cited 11 times in TR Web of Science
Scopus Citation Count Cited 13 times in Scopus
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