Cointegration and Government Borrowing Constraints: Evidence for the United States

Alfred Haug

Journal of Business & Economic Statistics, 1991, vol. 9, issue 1, 97-101

Abstract: Testable implications are derived in a present-value borrowing-constraint model for the U.S. federal government. Critical values for unit-root and cointegration tests are calculated with Monte Carlo studies. Cointegration techniques are employed to determine whether the government has been involved in perpetual debt financing in recent years. The data reject this assertion.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:bes:jnlbes:v:9:y:1991:i:1:p:97-101

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