Bubble finance and debt sustainability: a test of the Government's intertemporal budget constraint

Guglielmo Maria Caporale ()

No 48, National Institute of Economic and Social Research (NIESR) Discussion Papers from National Institute of Economic and Social Research

Abstract: A variety of statistical tests have been devised to establish whether public sector borrowing is on a sustainable path. This paper examines the record of ten European countries from the 1960s or 1970s up until the beginning of this decade. The test for sustainability is failed by Italy, Germany, Denmark and Greece, but passed by the others, including the UK. Contact NIESR if copy required

Date: 1993-08
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Persistent link: https://EconPapers.repec.org/RePEc:nsr:niesrd:48

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