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Multicointegration and sustainability of fiscal practices

dc.contributor.author Leachman, L
dc.contributor.author Bester, A
dc.contributor.author Rosas, G
dc.contributor.author Lange, P
dc.date.accessioned 2010-03-09T15:43:32Z
dc.date.issued 2005-09-12
dc.identifier.issn 0095-2583
dc.identifier.uri https://hdl.handle.net/10161/2076
dc.description.abstract Using multicointegration methodology, we develop criteria for testing sustainability of fiscal budgeting processes across all states of nature. Criteria are derived from the optimal control literature where levels and rates of change of a system of variables are determinants of policy response. The appropriate policy response mechanisms are outlined and linked to the multicointegration methodology. We then test government spending and revenue systems of 15 industrialized countries for the presence of such mechanisms. We find that only Norway and the United Kingdom exhibit policy responses that are consistent with our criteria. © Western Economic Association International.
dc.format.mimetype application/pdf
dc.language.iso en_US
dc.publisher Wiley
dc.relation.ispartof Economic Inquiry
dc.relation.isversionof 10.1093/ei/cbi031
dc.title Multicointegration and sustainability of fiscal practices
dc.type Journal article
duke.contributor.id Leachman, L|0217560
duke.contributor.id Lange, P|0097309
pubs.begin-page 454
pubs.end-page 466
pubs.issue 2
pubs.organisational-group Duke
pubs.organisational-group Economics
pubs.organisational-group Political Science
pubs.organisational-group Sanford School of Public Policy
pubs.organisational-group Sanford School of Public Policy - Secondary Group
pubs.organisational-group Trinity College of Arts & Sciences
pubs.publication-status Published
pubs.volume 43


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