Indicators and Tests of Fiscal Policy Sustainability

Indicators and Tests of Fiscal Policy Sustainability

The Italian Case 1970-2006

LAP Lambert Academic Publishing ( 21.12.2010 )

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The issue of sustainability of Italian fiscal policy in the period 1970-2006 is studied with two instruments: indicators and tests. The indicators Primary Gap, Tax Gap developed by Chouraqui et al. (1990) and S2 by the European Commission show a non- sustainable fiscal policy. Tests of sustainability following Trehan and Walsh (1988), Hakkio and Rush (1991) and Bohn (2008) show an opposite result accepting the sustainability path of fiscal variables. According to the strategy proposed by De Luzenberger and Marini (1993) a Chow-type test, that confirms a systematic change of fiscal policy in 1992-1993, permits to discern the two conflicting results in favor of the indicators' response.

Детали книги:

ISBN-13:

978-3-8433-8150-5

ISBN-10:

384338150X

EAN:

9783843381505

Язык книги:

English

By (author) :

Matteo Formenti

Количество страниц:

64

Опубликовано:

21.12.2010

Категория:

Экономика