Arbeitspapier
Assessing long-term fiscal developments - a new approach
We use a new approach to assess long-term fiscal developments. By analyzing the time varying behaviour of the two components of government spending and revenue - responsiveness and persistence - we are able to infer about the sources of fiscal behaviour. Drawing on quarterly data we estimate recursively these components within a system of government revenue and spending equations using a Three-Stage Least Square method. In this way we track fiscal developments, i.e. possible fiscal deteriorations and/or improvements for eight European Union countries plus the US. Results suggest that positions have not significantly changed for Finland, France, Germany, Spain, the United Kingdom and the US, whilst they have improved for Belgium, Italy, and the Netherlands.
- Language
-
Englisch
- Bibliographic citation
-
Series: ECB Working Paper ; No. 1032
- Classification
-
Wirtschaft
Fiscal Policy
National Government Expenditures and Related Policies: General
- Subject
-
Fiscal Deterioration
Fiscal sustainability
Finanzpolitik
Öffentlicher Haushalt
Dezentralisierung
Öffentliche Ausgaben
Politischer Konjunkturzyklus
Panel
EU-Staaten
- Event
-
Geistige Schöpfung
- (who)
-
Afonso, António
Agnello, Luca
Furceri, Davide
Sousa, Ricardo M.
- Event
-
Veröffentlichung
- (who)
-
European Central Bank (ECB)
- (where)
-
Frankfurt a. M.
- (when)
-
2009
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Afonso, António
- Agnello, Luca
- Furceri, Davide
- Sousa, Ricardo M.
- European Central Bank (ECB)
Time of origin
- 2009
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