References
- Ahmed , S. and Rogers , J. 1995 . Government budget deficits and trade deficits: are present value constraints satisfied in long-term data? . Journal of Monetary Economics , 36 : 351 – 74 .
- Athanasios , P. and Sidiropoulos , M. 1999 . The sustainability of fiscal policies in The European Union . International Advances in Economic Research , 5 : 289 – 307 .
- Ayadi , E. 2004 . “ Analyse de la soutenabilité de la politique budgétaire en Tunisie ” . In La restauration du rôle de l'Etat dans la croissance et le développement économiques , Edited by: Berthomieu , C. , Chaabane , A. and Ghorbel , A. 95 – 136 . Paris : Publisud .
- Baglioni , A. and Chierubini , U. 1993 . Intertemporal budget constraint and public debt sustainability: the case of Italy . Applied Economics , 25 : 275 – 83 .
- Baltagi, B. H. (2001) Econometric Analysis of Panel Data, 2nd edn, John Wiley & Sons, Chichester
- Berthomieu, C. (Ed.) (2004) Dépenses publiques, croissance et soutenabilité des déficits et de la dette extérieure: Etude du rôle de l'Etat dans six pays méditerranéens partenaires de l'Union européenne (Egypte, Israël, Liban, Maroc, Tunisie, Turquie), FEMISE 2, No. FEM2-02-21-39, University of Nice-Sophia Antipolis, CEMAFI. Available at http://www.femise.org/PDF/a021/fem2139-cemafi-synth.pdf (accessed April 2004)
- Bravo , A. B. S. and Silvestre , A. L. 2002 . Intertemporal sustainability of fiscal policies: some tests for European countries . European Journal of Political Economy , 18 : 517 – 28 .
- Buiter , W. H. and Patel , U. 1992 . Debt, deficits, and inflation: an application to the public finances of India . Journal of Public Economics , 47 : 171 – 205 .
- Caporale , G. M. 1995 . Bubble finance and debt sustainability: a test of the government's intertemporal budget constraint . Applied Economics , 27 : 1135 – 43 .
- Choi , I. 2001 . Unit root tests for panel data . Journal of International Money and Finance , 20 : 249 – 72 .
- Crowder, W. (1997) The US Federal Inter-temporal Budget Constraint: Restoring Equilibrium Through Increased Revenues or Decreased Spending ? Available at http://wueconb.wustl/vdkw_cgi/ (accessed 14 February 1997)
- Cunado , J. , Gil-Alana , L. A. and Perez De Gracia , F. 2004 . Is the US fiscal deficit sustainable? a fractionnaly integrated approach . Journal of Economics and Business , 56 : 501 – 26 .
- Elliott, G., and Kearney, C. (1988) The intertemporal government budget constraint and tests for bubbles, Research Paper, Reserve Bank of Australia
- Feve, P. and Henin, P. (1998) Assessing effective sustainability of fiscal policy within the G7, Cepremap Working Paper No. 9815
- Hamilton , J. D. and Flavin , M. A. 1986 . On the limitation of government borrowing: a framework for empirical testing . American Economic Review , 76 : 808 – 19 .
- Hakkio , G. S. and Rush , M. 1991 . Is the budget deficit too large? . Economic Inquiry , 29 : 429 – 45 .
- Haug , A. 1995 . Has federal budget deficit policy changed in recent years? . Economic Inquiry , 33 : 104 – 18 .
- Hsiao, C. (2003) Analysis of Panel Data, 2nd edn, Cambridge University Press, Cambridge
- Im , K.-S. , Pesaran , H.-M. and Shin , Y. 2003 . Testing for unit roots in heterogeneous panels . Journal of Econometrics , 115 : 53 – 74 .
- Jha , R. 2003 . “ Macroeconomic dimensions of fiscal policy in developing countries ” . In Macroeconomic for Developing Countries , 2nd , Edited by: Jha , R. 285 – 314 . New York : Routledge .
- Jondeau , E. 1992 . La soutenabilité de la politique budgétaire . Economie et prévisions , 104 : 1 – 17 .
- Kremers , J. 1988 . The long-run limits of US federal debt . Economic Letters , 28 : 259 – 62 .
- Lau, E. and Baharumshah, A. Z. (2005) Assessing the mean reversion behaviour of fiscal policy: the case of Asian countries, Economics Working Papers, Series Macroeconomics No 0504002
- Levin, A. and Lin, C. F. (1993) Unit root tests in panel data: new results, Discussion Paper No. 93–56, Department of Economics, University of California, San Diego
- Makrydakis , S. , Tzavalis , E. and Balfoussias , A. 1999 . Policy regime changes and long-run sustainability of fiscal policy: an application to Greece . Economic Modelling , 16 : 71 – 86 .
- Maddala , G. S. and Wu , S. 1999 . A comparative study of unit root tests with panel data and new simple test . Oxford Bulletin of Economics and Statistics , 61 : 631 – 52 .
- Olekalns , N. 2000 . Sustainability and stability? Australian fiscal policy in the twentieth century . Australian Economic Papers , 39 : 138 – 51 .
- Olekalns, N., and Cashin, P. (2000) An examination of the sustainability of Indian fiscal policy, Papers No. 748, Department of Economics, Melbourne
- Payne , J. E. 1997 . International evidence on the sustainability of budget deficits . Applied Economic Letters , 4 : 775 – 9 .
- Pedroni , P. 1999 . Critical values for cointegration tests in heterogeneous panels with multiple regressors . Oxford Bulletin of Economics and Statistics, Special Issue , 61 : 653 – 70 .
- Pedroni , P. 2004 . Panel cointegration: asymptotic and finite sample properties of pooled tie series tests with an application to the PPP hypothesis . Econometric Theory , 20 : 597 – 625 .
- Quintos , C. E. 1995 . Sustainability of the deficit process with structural shifts . Journal of Business and Economics Statistics , 13 : 409 – 17 .
- Smith , G. and Zin , S. 1991 . Persistent deficits and the market value of Government debt . Journal of Applied Econometrics , 6 : 31 – 44 .
- Tanners , E. and Liu , P. 1994 . Is the budget deficit too large? Some further evidence . Economic Inquiry , 32 : 511 – 8 .
- Trehan , B. and Walsh , C. E. 1988 . Common trends, inter-temporal budget balance and revenue smoothing . Journal of Economic Dynamics and Control , 12 : 425 – 44 .
- Trehan , B. and Walsh , C. E. 1991 . Testing inter-temporal budget constraint: theory and applications to US Federal budget and current account deficit . Journal of Money, Credit and Banking , 23 : 206 – 23 .
- Uctum, M. and Wickens, M. (1997) Debt and deficit ceilings and sustainability of fiscal policies: an intertemporal analysis, CEPR Discussion Paper No. 1612
- Wilcox , D. 1989 . The sustainability of Government deficits: implications of the present-value borrowing constraint . Journal of Money, Credit and Banking , 21 : 291 – 306 .