ON THE ESTIMATION OF PANEL FISCAL FUNCTIONS: HETEROGENEITY OR FISCAL FATIGUE?

Gerdie Everaert and Stijn Jansen
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Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium from Ghent University, Faculty of Economics and Business Administration

Abstract: This paper investigates whether ?scal fatigue is a robust characteristic of the ?scal reaction function in a panel of OECD countries or merely an artifact of ignoring important aspects of the panel dimension of the data. More speci?cally, we test whether the quadratic and cubic debt-toGDP terms remain signi?cant once heterogeneous slopes are allowed for.

Keywords: Fiscal reaction function; ?scal fatigue; panel data; heterogeneity (search for similar items in EconPapers)
JEL-codes: E62 H62 H63 H68 (search for similar items in EconPapers)
Pages: 9 pages
Date: 2017-01
New Economics Papers: this item is included in nep-mac
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:rug:rugwps:17/930

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