556
Views
2
CrossRef citations to date
0
Altmetric
Research Article

Testing fiscal sustainability in OECD countries: new evidence from the past centuries

, &

References

  • Afonso, A. 2005. “Fiscal Sustainability: The Unpleasant European Case.” FinanzArchiv/Public Finance Analysis 61 (1): 19–44. doi:10.1628/0015221053722532.
  • Afonso, A., and J. T. Jalles. 2014. “A Longer-Run Perspective on Fiscal Sustainability.” Empirica 41 (4): 821–847. doi:10.1007/s10663-013-9240-0.
  • Afonso, A., and C. Rault. 2010. “What Do We Really Know About Fiscal Sustainability in the EU? A Panel Data Diagnostic.” Review of World Economics 145 (4): 731–755. doi:10.1007/s10290-009-0034-1.
  • Aldama, P., and J. Creel. 2022. “Real-Time Fiscal Policy Responses in the OECD from 1997 to 2018: Procyclical but Sustainable?” European Journal of Political Economy 73: 102135. doi:10.1016/j.ejpoleco.2021.102135.
  • Bahramian, P., and A. Saliminezhad. 2021. “Revisiting Purchasing Power Parity in the ASEAN-5 Countries: Evidence from the Fourier Quantile Unit Root Test.” Applied Economics Letters 28 (13): 1104–1109. doi:10.1080/13504851.2020.1803473.
  • Bohn, H. 2007. “Are Stationarity and Cointegration Restrictions Really Necessary for the Intertemporal Budget Constraint?” Journal of Monetary Economics 54 (7): 1837–1847. doi:10.1016/j.jmoneco.2006.12.012.
  • Bystrov, V., and M. Mackiewicz. 2020. “Recurrent Explosive Public Debts and the Long-Run Fiscal Sustainability.” Journal of Policy Modeling 42 (2): 437–450. doi:10.1016/j.jpolmod.2019.10.002.
  • Cai, Y., and T. Chang. 2022. ”On the Convergence of Metals Price–A Series of Fourier DF Unit Root Tests.” Applied Economics Letters 1–5. forthcoming. doi:10.1080/13504851.2022.2097631.
  • Cai, Y., and T. Omay. 2022. “Using Double Frequency in Fourier Dickey–Fuller Unit Root Test.” Computational Economics 59 (2): 445–470. doi:10.1007/s10614-020-10075-5.
  • Cho, D., and K. W. Lee. 2022. “Population Aging and Fiscal Sustainability: Nonlinear Evidence from Europe.” Journal of International Money and Finance 126: 102665. doi:10.1016/j.jimonfin.2022.102665.
  • Daniel, B. C., and C. Shiamptanis. 2013. “Pushing the Limit? Fiscal Policy in the European Monetary Union.” Journal of Economic Dynamics & Control 37 (11): 2307–2321. doi:10.1016/j.jedc.2013.06.003.
  • Davies, R. B. 1987. “Hypothesis Testing When a Nuisance Parameter is Present Only Under the Alternative.” Biometrika 74 (1): 33–43. doi:10.1093/biomet/74.1.33.
  • D’Erasmo, P., E. G. Mendoza, and J. Zhang. 2016. ”What is a Sustainable Public Debt?” In Handbook of Macroeconomics, edited by John B. Taylor and Harald Uhlig, Vol. 2, 2493–2597. Elsevier.
  • Enders, W., and J. Lee. 2012. “The Flexible Fourier Form and Dickey–Fuller Type Unit Root Tests.” Economics Letters 117 (1): 196–199. doi:10.1016/j.econlet.2012.04.081.
  • Fotiou, A. 2022. “Non-Linearities in Fiscal Policy: The Role of Debt.” European Economic Review 150: 104212. doi:10.1016/j.euroecorev.2022.104212.
  • Iorio, F. D., and S. Fachin. 2022. “Fiscal Reaction Functions for the Advanced Economies Revisited.” Empirical Economics 62 (6): 2865–2891. doi:10.1007/s00181-021-02119-y.
  • Jordà, Ò., M. Schularick, and A. M. Taylor. 2017. “Macrofinancial History and the New Business Cycle Facts.” NBER Macroeconomics Annual 31 (1): 213–263. doi:10.1086/690241.
  • Kose, M. A., S. Kurlat, F. Ohnsorge, and N. Sugawara. 2022. “A Cross-Country Database of Fiscal Space.” Journal of International Money and Finance 128: 102682. doi:10.1016/j.jimonfin.2022.102682.
  • Olayeni, R. O., A. K. Tiwari, and M. E. Wohar. 2021. “Fractional Frequency Flexible Fourier Form (FFFFF) for Panel Cointegration Test.” Applied Economics Letters 28 (6): 482–486. doi:10.1080/13504851.2020.1761526.
  • Omay, T. 2015. “Fractional Frequency Flexible Fourier Form to Approximate Smooth Breaks in Unit Root Testing.” Economics Letters 134: 123–126. doi:10.1016/j.econlet.2015.07.010.
  • Rogoff, K. 2021. “Fiscal Sustainability in the Aftermath of the Great Pause.” Journal of Policy Modeling 43 (4): 783–793. doi:10.1016/j.jpolmod.2021.02.007.
  • Tsong, C. C., C. F. Lee, L. J. Tsai, and T. C. Hu. 2016. “The Fourier Approximation and Testing for the Null of Cointegration.” Empirical Economics 51 (3): 1085–1113. doi:10.1007/s00181-015-1028-6.
  • Yoon, G. 2012. “War and Peace: Explosive US Public Debt, 1791–2009.” Economics Letters 115 (1): 1–3. doi:10.1016/j.econlet.2011.11.020.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.