IDEAS home Printed from https://ideas.repec.org/a/cii/cepiie/2020-q3-163-10.html
   My bibliography  Save this article

Tracking fiscal discipline. Looking for a PIIGS on the wing

Author

Listed:
  • David Neto

Abstract

This paper revisits fiscal sustainability conditions by relaxing the long-run time-invariance restriction on the parameters commonly imposed in the existing literature. For this purpose, we propose to extend the stock-flow econometric analysis, which bridge the use of government's intertemporal budget constraint as well as a government's fiscal manoeuvre, by allowing time-varying multicointegration. We applied the procedure to the Portuguese case. We found that fiscal practice has taken various directions in this country since the end of the 90s, involving different situations regarding fiscal sustainability.

Suggested Citation

  • David Neto, 2020. "Tracking fiscal discipline. Looking for a PIIGS on the wing," International Economics, CEPII research center, issue 163, pages 147-154.
    • Handle: RePEc:cii:cepiie:2020-q3-163-10
    as

    Download full text from publisher

    File URL: https://www.sciencedirect.com/science/article/pii/S2110701719301994
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Afonso, António & Coelho, José Carlos, 2024. "Drivers of fiscal sustainability: A time-varying analysis for Portugal," International Economics, Elsevier, vol. 178(C).
    2. Neto, David, 2021. "Adaptive LASSO for selecting Fourier coefficients in a functional smooth time-varying cointegrating regression: An application to the Feldstein–Horioka puzzle," Mathematics and Computers in Simulation (MATCOM), Elsevier, vol. 179(C), pages 253-264.
    3. Gozde Es POLAT & Onur POLAT, 2021. "Fiscal sustainability analysis in EU countries: a dynamic macro-panel approach," Eastern Journal of European Studies, Centre for European Studies, Alexandru Ioan Cuza University, vol. 12, pages 219-241, June.

    More about this item

    Keywords

    Fiscal policy; Smooth time-varying multicointegration; Stock-flow analysis; Sustainability; Chebyshev time-polynomial;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • C12 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Hypothesis Testing: General
    • C13 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Estimation: General
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C54 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Quantitative Policy Modeling

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cii:cepiie:2020-q3-163-10. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/cepiifr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.