| dc.contributor.author | RICCIUTI, Roberto | |
| dc.date.accessioned | 2016-07-26T15:11:05Z | |
| dc.date.available | 2016-07-26T15:11:05Z | |
| dc.date.issued | 2008 | |
| dc.identifier.citation | Cliometrica, 2008, Vol. 2, No. 3, pp. 259-274 | |
| dc.identifier.issn | 1863-2505 | |
| dc.identifier.issn | 1863-2513 | |
| dc.identifier.uri | https://hdl.handle.net/1814/42783 | |
| dc.description | First online: 04 December 2007; Published also in: Institute of Public Policy and Public Choice - POLIS, 2007 (2007-09) | |
| dc.description.abstract | The Italian fiscal history is characterised by a number of fiscal consolidations. In this study, we characterise fiscal policy in terms of non-linear deterministic processes. We find that government spending and taxes can be described as being non-linear trend stationary processes instead of unit roots. A long run equilibrium relationship—a non-linear co-trend—does exist between the two series, fulfilling the intertemporal government budget constraint. We interpret this result as evidence of a long run fiscal rule that different policy makers have adopted, putting public finance in balance. | |
| dc.language.iso | en | |
| dc.relation.ispartof | Cliometrica | |
| dc.relation.hasversion | http://econpapers.repec.org/paper/ucaucapdv/86.htm | |
| dc.subject | Intertemporal government budget constraint | |
| dc.subject | Non-linear trend stationarity | |
| dc.subject | Non-linear co-trending | |
| dc.subject | E620 | |
| dc.subject | H62 | |
| dc.subject | N100 | |
| dc.title | The quest for a fiscal rule : Italy, 1861–1998 | |
| dc.type | Article | |
| dc.identifier.doi | 10.1007/s11698-007-0022-4 | |
| dc.identifier.volume | 2 | |
| dc.identifier.startpage | 259 | |
| dc.identifier.endpage | 274 | |
| eui.subscribe.skip | true | |
| dc.identifier.issue | 3 | |