文章基本信息

标题：Budget Deficits Sustainable? An Empirical Analysis for OECD Countries
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作者：Mehmet Mercan ; Mehmet Mercan
期刊名称：Procedia - Social and Behavioral Sciences
印刷版ISSN：1877-0428
出版年度：2014
卷号：131
页码：258-263
DOI：10.1016/j.sbspro.2014.04.114
语种：English
出版社：Elsevier
摘要：AbstractIn this study, budget deficit sustainability in OECD countries, are investigated via intertemporal budget constraint approach in 1980-2012 periods and quarterly data used. In analysis firstly, Cross Sectionally Dependency (CD) in country was examined CDLM test (Cross Sectionally Dependency Lagrange Multiplier) developed by Pesaran (2004). Stationary of series was searched CADF test (Cross-Sectionally Augmented Dickey-Fuller) developed by Pesaran (2006) considering CD. Cointegration relationship among series was examined panel cointegration test with multiple structural breaks developed by Basher and Westerlund (2009). As a result of analysis, cointegration relationship between the series was determined. According to the long- run analysis, budget deficits of these countries are sustainable in weak form.
关键词：Budget Deficit;Sustainability;Cross-Sectional Dependency;Panel Cointegration;Jel Codes: H61;H62;H63