Subtitle:

Książka = Book ; KS/3/2006/T50R02P02

Publisher:

Instytut Badań Systemowych. Polska Akademia Nauk ; Systems Research Institute. Polish Academy of Sciences

Place of publishing:

Warszawa

Description:

[1-5], 89-103 pages ; 21 cm ; Bibliography p. 102-103

Type of object:

Book/Chapter

Abstract:

In this paper we consider a national debt sustainability problem in the Euro area countries. We apply and extend an approach developed by Bohn (1998) who proposes to study whether the inter-temporal budget constraint of the government holds by modelling the public debt to GDP ratio as a mean-reverting process which is free from arbitrary discount rates that other approaches need to assume. This paper is concerned with forma/ econometric procedures that a/low one to test for the sustainability of fiscal policy. In our empirical studies we focus on those countries that either have a high debt to GDP ratio (ltaly) or have recently violated the Maastricht treaty by permitting more than three percent of the deficit to GDP ratio (France, Germany and Portugal).

Relation:

Książka = Book

Detailed Resource Type:

Book

Resource Identifier:

oai:rcin.org.pl:206721

Source:

KS-2006-03-T50R02P02

Language:

eng

Language of abstract:

eng

Rights:

Creative Commons Attribution BY 4.0 license

Terms of use:

Copyright-protected material. [CC BY 4.0] May be used within the scope specified in Creative Commons Attribution BY 4.0 license, full text available at: ; -

Digitizing institution:

Systems Research Institute of the Polish Academy of Sciences

Original in:

Library of Systems Research Institute PAS

Projects co-financed by:

Operational Program Digital Poland, 2014-2020, Measure 2.3: Digital accessibility and usefulness of public sector information; funds from the European Regional Development Fund and national co-financing from the state budget.

Access:

Open