Página 1 dos resultados de 535 itens digitais encontrados em 0.002 segundos
Resultados filtrados por Publicador: ISEG – Departamento de Economia

Bootstrap Panel Granger-Causality Between Government Budget and External Deficits for the EU

Afonso, António; Rault, Christophe
Fonte: ISEG – Departamento de Economia Publicador: ISEG – Departamento de Economia
Tipo: Outros
Publicado em //2009 Português
Relevância na Pesquisa
We investigate the existence of Granger-causality between current account and government budget balances over the period 1970-2007, for different EU and OECD country groupings. We use a panel-data approach based on SUR systems and Wald tests with country specific bootstrap critical values. Our results show a causal relation from budget deficits to current account deficits for several EU countries: Bulgaria, Czech Republic, Estonia, Finland, France, Italy, Hungary, Lithuania, Poland, and Slovakia, along the lines of the so-called twin-deficit relationship. Considering the effective real exchange rate in the SUR system does not substantially alter the results.