Public finances in the EU-27: Are they sustainable?
Luis Gil-Alana () and
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Laura Sauci: University of Huelva
Empirica, 2020, vol. 47, issue 1, No 7, 204 pages
Abstract In this paper we aim to analyse the degree of mean reversion of public expenditure, revenue and the difference between them, over GDP for 27 European Union (EU) countries. To gain flexibility in the analysis of the order of integration of the variables we apply fractional integration techniques. In general, we find evidence of mean reversion in all countries.
Keywords: Public revenues; Public expenditures; Fractional integration (search for similar items in EconPapers)
JEL-codes: C32 E62 H60 (search for similar items in EconPapers)
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