US DEFICIT SUSTAINABILITY REVISITED: A MULTIPLE STRUCTURAL CHANGE APPROACH

Oscar Bajo-Rubio (), Carmen Diaz-Roldan and Vicente Esteve ()

Working Papers from Instituto de Estudios Fiscales

Abstract: . In this paper we re-examine the long-run sustainability of US budget de…cits, using Bai and Perron’s multiple structural change approach. While the de…cit would have been weakly sustainable over the full sample (1947:1-2004:3), strong sustainability would appear only between 1982:1 and 1995:4.

Keywords: Fiscal policy; Sustainability; US budget de…cit. (search for similar items in EconPapers)
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Journal Article: US deficit sustainability revisited: a multiple structural change approach (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:hpe:wpaper:y:2005:i:19

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