文章基本信息

标题：A Structural VAR analysis of Fiscal shocks on current accounts in Greece
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作者：Tiwari, Aviral ; G, Suresh K ; Mutașcu, Mihai 等
期刊名称：Theoretical and Applied Economics
印刷版ISSN：1841-8678
电子版ISSN：1844-0029
出版年度：2015
卷号：XXII
期号：3(604), Autumn
页码：5-20
出版社：Asociatia Generala a Economistilor din Romania - AGER
摘要：The present study is, in particular, an attempt to test the relationship between budget deficit and current account balance in Greece, from 1976 to 2009, using a structural autoregressive (SVAR) model. We focused on Greece because this country has presented in the last years seriously fiscal changes, and severely damage in the level of macroeconomic variables. We find that in case of Greece there is no long run relationship between budget deficit and current account deficit either in the presence or in absence of structural breaks in the data set. Further, Impulse Response Functions (IRFs) calculated in the framework of SVAR shows that increase in budget deficit increases the current account deficit, which is consistent with the twin deficit hypothesis.
关键词：Budget Deficit; Current Account Deficit; SVAR Analysis; Structural Breaks.