Panel Cointegration Tests on the Fiscal Sustainability of German Laender

Heiko Burret (), Lars Feld, Kö and Ekkehard A. Hler
Authors registered in the RePEc Author Service: Ekkehard A. Köhler

No 4929, CESifo Working Paper Series from CESifo

Abstract: This paper provides new evidence on the sustainability of public finances in German states (Laender) by exploiting a newly compiled database covering the years 1950]2011. Unlike previous studies on Germany, we analyze fiscal sustainability by applying gsecond generationh panel cointegration techniques. A unique identification strategy for the selection of sub]panels improves the robustness of panel cointegration tests and reveals that Laender finances are hardly sustainable.

Keywords: fiscal sustainability; federalism; unit root; panel cointegration (search for similar items in EconPapers)
JEL-codes: H62 H72 H77 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (7)

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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_4929

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