Identifying relationship between macroeconomic and fiscal policy variables for EU countries and Turkey
Bibliographic Data
| ID | 15066943 |
|---|---|
| Authors | Yusuf Temur (0000-0002-0420-5842, Department of Public Finance, Gaziosmanpasa University, Tokat, Turkey), Halit Çiçek (Department of Public Finance, Gaziosmanpasa University, Tokat, Turkey), İlhan Eroğlu (0000-0003-4711-1165, Department of Economics, Gaziosmanpasa University, Tokat, Turkey), Cumhur Erdem (0000-0001-8865-3556, Abant İzzet Baysal University, Department of Economics, Bolu, Turkey, corresponding author) |
| Year | 2017 |
| Volume | 30 |
| Issue | 1 |
| Pages | 125-139 |
| Publication date | 2017-01-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2017.1305777 |
| OpenAlex | W2604265293 |
| Language | EN |
| References cited | 18 |
Following the 2008 global financial crisis, the European Debt Crisis has affected the world economy more than any other event. The member states of the European Monetary Union have deviated from the Maastricht Convergence Criteria (MCC) and this has led to the European Debt Crisis. We have used the 2000 Q1–2011 Q4 data and multivariate time series and panel data analysis for determining the relationship among the variables that establish the MCC comprising inflation, burden of net public debt, interest rate, budget deficit and exchange rate. The vector autoregression model/vector error correction model results have showed that there is an interaction between the variables. However, the panel cointegration results have confirmed increases in budget deficits and interest rates will increase the burden of net public debt and inflation will decrease it
Cointegration · Debt · Debt crisis · Deficit spending · Econometrics · Economics · Error correction model · European debt crisis · European integration · European union · Exchange rate · Financial crisis · Fiscal policy · Interest rate · International economics · Macroeconomics · Monetary economics · Panel data · Real interest rate · Vector autoregression · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
Testing for stationarity in heterogeneous panel data
Discretion versus policy rules in practice
The local power of some unit root tests for panel data
On the estimation and inference of a cointegrated regression in panel data
Does high public debt consistently stifle economic growth? A critique of Reinhart and Rogoff
Unit root tests in panel data
Testing for unit roots in heterogeneous panels
Purchasing Power Parity Tests in Cointegrated Panels
The European Sovereign Debt Crisis
The Maastricht Treaty at Twenty
The EMU Debt Crisis
| Highly cited | No |
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