Arbeitspapier
The determinants of public deficit volatility
This paper empirically analyzes the political, institutional and economic sources of public deficit volatility. Using the system-GMM estimator for linear dynamic panel data models and a sample of 125 countries analyzed from 1980 to 2006, we show that higher public deficit volatility is typically associated with higher levels of political instability and less democracy. In addition, public deficit volatility tends to be magnified for small countries, in the outcome of hyper-inflation episodes and for countries with a high degree of openness.
- Sprache
-
Englisch
- Erschienen in
-
Series: ECB Working Paper ; No. 1042
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy
- Thema
-
institutions
political instability
public deficit
Volatility
Haushaltsdefizit
Volatilität
Politische Instabilität
Demokratie
Institutionelle Infrastruktur
Momentenmethode
Welt
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Agnello, Luca
Sousa, Ricardo M.
- Ereignis
-
Veröffentlichung
- (wer)
-
European Central Bank (ECB)
- (wo)
-
Frankfurt a. M.
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Agnello, Luca
- Sousa, Ricardo M.
- European Central Bank (ECB)
Entstanden
- 2009
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