Arbeitspapier
Bootstrap panel granger-causality between government budget and external deficits for the EU
We investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use the panel-data approach of Kónya (2006), which is based on SUR systems and Wald tests with country specific bootstrap critical values. Our results show a causal relation from budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France, Italy, Hungary, Lithuania, Poland, and Slovakia, along the lines of the so-called twin-deficit relationship. Considering the effective real exchange rate in the SUR system does not substantially alter the results.
- Sprache
-
Englisch
- Erschienen in
-
Series: CESifo Working Paper ; No. 2581
- Klassifikation
-
Wirtschaft
Single Equation Models; Single Variables: Panel Data Models; Spatio-temporal Models
Fiscal Policy
Current Account Adjustment; Short-term Capital Movements
National Deficit; Surplus
- Thema
-
Panel causality tests
budget deficit
external imbalance
real exchange rates
OECD
Haushaltsdefizit
Leistungsbilanz
Zahlungsbilanzungleichgewicht
Kaufkraftparität
Kausalanalyse
Panel
Schätzung
EU-Staaten
OECD-Staaten
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Afonso, António
Rault, Christophe
- Ereignis
-
Veröffentlichung
- (wer)
-
Center for Economic Studies and ifo Institute (CESifo)
- (wo)
-
Munich
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
- 10.03.2025, 11:44 MEZ
Datenpartner
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ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Afonso, António
- Rault, Christophe
- Center for Economic Studies and ifo Institute (CESifo)
Entstanden
- 2009
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