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Theses, dissertations and research publications (including journal articles, conference abstracts and books) from Lund University are collected in this database. Where possible, the option to download a full text document is available. It is also possible to search for Lund University student theses in the student theses database.
|Title||Fiscal policy in Sweden: effects of EMU criteria convergence|
Department of Statistics
|Full-text||Full text is not available in this archive|
|Alternative location (URL)||http://dx.doi.org/10.1016/S026... Restricted Access (Alternative Location)|
|Pages||121 - 136|
|Document type||Journal article|
|Publisher||ELSEVIER SCIENCE BV|
|Abstract English||This paper investigates the sustainability of Swedish fiscal policy performed during the period 1963-2000. The main emphasis is on assessing the effects of changes in fiscal policy, such as changes in taxes or public spending. On the basis of Johansen's VAR and the augmented Granger causality tests, the results show that taxes and spending are causally related in the long-run and the homogeneity condition is supported empirically. The effect of EMU criteria convergence on fiscal policy is also investigated empirically. The 'Pantula principle' is applied to determine the form of deterministic trend component. Special attention is given to the lag-choosing process. The policy implication of our findings is that Sweden is not in violation of its intertemporal budget constraint. (C) 2002 Elsevier Science B.V. All rights reserved.|
Business and Economics
|Keywords||Granger causality, cointegration, spending, revenue, Johansen's VAR, EMU|
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