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An Efficient test of Fiscal Sustainability

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  • Vasco Gabriel

    (University of Surrey and NIPE-UM, Portugal)

  • Pataaree Sangduan

    (Bureau of Budget, Thailand)

Abstract

We suggest a multivariate efficient test of the 'strong' fiÂ…scal sustainability hypothesis, based on Horvath and Watson's (1995) cointegration test when cointegration vectors are pre-specified. Using data for a set of developed and developing economies, we show that, unlike our procedure, conventional methodologies tend to penalize the sustainability hypothesis.

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File URL: http://www.fahs.surrey.ac.uk/economics/discussion_papers/2010/DP11-10.pdf
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Bibliographic Info

Paper provided by School of Economics, University of Surrey in its series School of Economics Discussion Papers with number 1110.

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Length: 15 pages
Date of creation: Sep 2010
Date of revision:
Handle: RePEc:sur:surrec:1110

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Cited by:
  1. Ricardo M. Sousa, 2010. "Collateralizable Wealth, Asset Returns, and Systemic Risk: International Evidence," NIPE Working Papers 15/2010, NIPE - Universidade do Minho.

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