Contents of the volume

2018, Volume 71 - Issue 1

ISSN: 2499-8265
RSS feed citation: At RePEc
Publication date: 01 February 2018

THE POLITICAL CONNOTATION OF INTERNATIONAL TRADE AND GLOBALISATION: A COMMON MISUNDERSTANDING

Silvio Traverso

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DOES WEAK MACROECONOMIC PERFORMANCE AFFECT VOTER TURNOUT? AN ANALYSIS ACCOUNTING FOR THE 'JOSHUA GENERATION EFFECT'

Richard Cebula, Maggie Foley, Sriparna Ghosh

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MODELING LIFE EXPECTANCY IMPROVEMENT AMONG KUWAITI POPULATION

Muhammad Al-Ramadhan

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FIRMS CONTROLLED BY OWNERS AND MANAGERIAL FIRMS: THE 'STRATEGIC' TRADE POLICY GAME REVISITED

Luciano Fanti, Domenico Buccella

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REGIME-SHIFT, MULTICOINTEGRATION AND FISCAL SUSTAINABILITY: FURTHER EVIDENCE ON POLAND (1999-2015)

Marco Tronzano

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Genoa Chamber of Commerce
Economia Internazionale / International Economics

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Corresponding author

Marco TRONZANO, Università degli Studi di Genova, Dipartimento di Economia e Metodi Quantitativi, Genova, Italia

Regime-Shift, Multicointegration and Fiscal Sustainability: Further Evidence on Poland (1999-2015)

Pages

73-86

Abstract

This paper reassesses the sustainability of fiscal policy in Poland, extending the analysis of Tronzano (forthcoming) to a multicointegration test allowing for regime shifts. The empirical evidence strongly rejects the existence of multicointegration, thus suggesting that Poland’s fiscal process is unsustainable in a stochastic environment. In line with my previous research and other recent applied literature on Poland, the main policy implications are twofold. First, a prosecution of the ongoing fiscal consolidation process is needed. Second, the above process should be implemented introducing a systematic response of fiscal policy to contingent disequilibria in public debt.

JEL classification

C22, E62, H62

Keywords

Fiscal Sustainability, Regime-Shifts, Transition Economies, Poland, Cointegration, Multicointegration

Index

  1. Introduction and motivation
  2. A multicointegration test allowing for regime shifts
  3. Concluding remarks

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