Public Debt, the Unit Root Hypothesis and Structural Breaks
A Multi‐Country Analysis
Bibliographic Data
| ID | 9723609 |
|---|---|
| Authors | MERIH UCTUM (The Graduate Center, CUNY), THOM THURSTON, Thom B Thurston (0000-0003-2592-3533, The Graduate Center, CUNY), REMZI UCTUM (Université Paris Nanterre) |
| Year | 2006 |
| Volume | 73 |
| Issue | 289 |
| Pages | 129-156 |
| Publication date | 2006-02-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economica (JOURNAL) |
| Journal identifiers | ISSN: 0013-0427 • E-ISSN: 1468-0335 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1468-0335.2006.00451.x |
| OpenAlex | W2080888063 |
| Language | EN |
| Citations received | 3 |
| References cited | 28 |
We assess fiscal performances in G7 and selected Latin American and Asian countries. We consider two questions: (i) Have public finances been sustainable? (ii) Do countries follow more restrictive fiscal policies when debt starts to rise? We find that: (i) the traditional unit root tests often overlook the corrective actions taken by many governments; controlling for structural breaks changes the non‐stationarity results dramatically among the three groups; (ii) estimation of a reaction function for governments, expanded by incorporating structural breaks, provides further evidence for significant active anti‐debt policies among G7 countries, and to a lesser extent in the other regions
Debt · Debt ratio · Econometrics · Economics · Estimation · Fiscal policy · International economics · Latin Americans · Macroeconomics · Monetary economics · Political science · Root (linguistics) · Unit (ring theory) · Unit root · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Monetary Policy and Economic Impact
Long-run economic relationships
Estimating and Testing Linear Models with Multiple Structural Changes
Tests for Parameter Instability and Structural Change With Unknown Change Point
The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis
Unit Root Tests in Arma Models with Data-Dependent Methods for the Selection of the Truncation Lag
Distribution of the Estimators for Autoregressive Time Series With a Unit Root
The Behavior of U. S. Public Debt and Deficits
Techniques for Testing the Constancy of Regression Relationships Over Time
Distribution of the Estimators for Autoregressive Time Series with a Unit Root
Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis
Multiple Trend Breaks and the Unit-Root Hypothesis
Estimation of a Change Point in Multiple Regression Models
On the Determination of the Public Debt
| Citations per year | 0.2 |
|---|---|
| Citation span | 2011 - 2020 (10) |
| Highly cited | No |