Policy regime changes and the long-run sustainability of fiscal policy: an application to Greece

This paper questions the widespread practice of assessing the hypothesis of long-run fiscal policy sustainability by means of conventional unit-root tests that do not allow for the possible impact of regime shifts. Using the Greek economy as a model case, the Zivot-Andrews sequential integratibility...

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Veröffentlicht in:	Economic modelling 1999, Vol.16 (1), p.71-86
Hauptverfasser:	Makrydakis, Stelios, Tzavalis, Elias, Balfoussias, Athanassios
Format:	Artikel
Sprache:	eng
Schlagworte:	Deficits Economic models Economic theory Fiscal policy Fiscal policy sustainability Government debt National debt Persistent deficits Policy making Studies Unit roots
Online-Zugang:	Volltext
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