Assessing Long-Term Fiscal Developments: Evidence from Portugal

Ricardo Sousa and Antonio Afonso

No 1/2009, NIPE Working Papers from NIPE - Universidade do Minho

Abstract: Drawing on quarterly data for Portugal, we use a Three-Stage Least Square method and a system of equations to recursively estimate two components of fiscal policy - responsiveness and persistence - and to infer about the sources of fiscal deterioration (improvement). The results suggest that: (i) government spending exhibits higher persistence than government revenue; and (ii) government revenue is more responsive to the business cycle than government spending.

Keywords: Fiscal deterioration; Portugal. (search for similar items in EconPapers)
JEL-codes: E62 H50 (search for similar items in EconPapers)
Date: 2009
New Economics Papers: this item is included in nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://www3.eeg.uminho.pt/economia/nipe/docs/2009/NIPE_WP_1_2009.pdf (application/pdf)

Related works:
Journal Article: Assessing long-term fiscal developments: evidence from Portugal (2011)
Working Paper: Assessing Long-Term Fiscal Developments: Evidence from Portugal (2009)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nip:nipewp:1/2009

Ordering information: This working paper can be ordered from

Access Statistics for this paper

More papers in NIPE Working Papers from NIPE - Universidade do Minho Núcleo de Investigação em Políticas Económicas e Empresariais, Escola de Economia e Gestão, Universidade do Minho, P-4710-057 Braga, Portugal. Contact information at EDIRC.
Bibliographic data for series maintained by NIPE ().