메뉴 건너뛰기




Volumn 73, Issue 289, 2006, Pages 129-156

Public debt, the unit root hypothesis and structural breaks: A multi-country analysis

Author keywords

[No Author keywords available]

Indexed keywords

DEBT; FISCAL POLICY; FISCAL REFORM; G-7 COUNTRY; STRUCTURAL ADJUSTMENT;

EID: 33646540737     PISSN: 00130427     EISSN: 14680335     Source Type: Journal    
DOI: 10.1111/j.1468-0335.2006.00451.x     Document Type: Article
Times cited : (37)

References (30)
  • 1
    • 24144466818 scopus 로고    scopus 로고
    • Government budget deficits and trade deficits: Are present value constraints satisfied in long-term data?
    • Ahmed, S. and Rogers, J. H. (1996). Government budget deficits and trade deficits: Are present value constraints satisfied in long-term data? Journal of Monetary Economics, 36, 351-74.
    • (1996) Journal of Monetary Economics , vol.36 , pp. 351-374
    • Ahmed, S.1    Rogers, J.H.2
  • 2
    • 0001162133 scopus 로고
    • Tests for parameter instability and structural change with unknown change point
    • Andrews, D. (1993). Tests for parameter instability and structural change with unknown change point. Econometrica, 61, 821-56.
    • (1993) Econometrica , vol.61 , pp. 821-856
    • Andrews, D.1
  • 3
    • 0031492060 scopus 로고    scopus 로고
    • Estimating multiple breaks one at a time
    • Bai, J. (1997a). Estimating multiple breaks one at a time. Econometric Theory, 13, 315-52.
    • (1997) Econometric Theory , vol.13 , pp. 315-352
    • Bai, J.1
  • 4
    • 0031325058 scopus 로고    scopus 로고
    • Estimation of a change point in multiple regression models
    • Bai, J. (1997b). Estimation of a change point in multiple regression models. Review of Economics and Statistics, 79, 551-63.
    • (1997) Review of Economics and Statistics , vol.79 , pp. 551-563
    • Bai, J.1
  • 5
    • 0346906789 scopus 로고    scopus 로고
    • Estimating and testing linear models with multiple structural changes
    • Bai, J. and Perron, P. (1998). Estimating and testing linear models with multiple structural changes. Econometrica, 66, 47-78.
    • (1998) Econometrica , vol.66 , pp. 47-78
    • Bai, J.1    Perron, P.2
  • 6
    • 84881847928 scopus 로고
    • Recursive and sequential tests of the unit root and trend break hypotheses: Theory and international evidence
    • Banerjee, A., Lumsdaine, R. L. and Stock, J. H. (1992). Recursive and sequential tests of the unit root and trend break hypotheses: Theory and international evidence. Journal of Business and Economic Statistics, 10, 271-88.
    • (1992) Journal of Business and Economic Statistics , vol.10 , pp. 271-288
    • Banerjee, A.1    Lumsdaine, R.L.2    Stock, J.H.3
  • 7
    • 0000841798 scopus 로고
    • On the determination of public debt
    • Barro, R. J. (1979). On the determination of public debt. Journal of Political Economy, 87, 940-71.
    • (1979) Journal of Political Economy , vol.87 , pp. 940-971
    • Barro, R.J.1
  • 8
    • 0040999410 scopus 로고    scopus 로고
    • Unit Roots, Post-War Slowdowns and Long-Run Growth: Evidence from Two Structural Breaks
    • NBER Working Paper no. 6397
    • Ben-David, D., Lumsdaine, R. L. and Papell, D. H. (1998). Unit Roots, Post-War Slowdowns and Long-Run Growth: Evidence from Two Structural Breaks. NBER Working Paper no. 6397.
    • (1998)
    • Ben-David, D.1    Lumsdaine, R.L.2    Papell, D.H.3
  • 9
    • 0039658649 scopus 로고    scopus 로고
    • The behavior of US public debt and deficits
    • Bohn, H. (1998). The behavior of US public debt and deficits. Quarterly Journal of Economics, 113, 949-63.
    • (1998) Quarterly Journal of Economics , vol.113 , pp. 949-963
    • Bohn, H.1
  • 10
    • 0002149993 scopus 로고
    • Excessive deficits: Sense and nonsense in the Treaty of Maastricht
    • Buiter, W., Corsetti, G. and Roubini, N. (1993). Excessive deficits: sense and nonsense in the Treaty of Maastricht. Economic Policy, 8, 58-101.
    • (1993) Economic Policy , vol.8 , pp. 58-101
    • Buiter, W.1    Corsetti, G.2    Roubini, N.3
  • 11
    • 0000473798 scopus 로고
    • Techniques for testing the constancy of regression relationships over time
    • Brown, R. L., Durbin, J. and Evans, J. M. (1975). Techniques for testing the constancy of regression relationships over time. Journal of the Royal Statistical Society, B37, 149-92.
    • (1975) Journal of the Royal Statistical Society , vol.B37 , pp. 149-192
    • Brown, R.L.1    Durbin, J.2    Evans, J.M.3
  • 12
    • 0005856878 scopus 로고    scopus 로고
    • Analysing the sustainability of fiscal deficits in developing countries
    • Unpublished paper, Georgetown University
    • Cuddington, J. T. (1997). Analysing the sustainability of fiscal deficits in developing countries. Unpublished paper, Georgetown University.
    • (1997)
    • Cuddington, J.T.1
  • 13
    • 85036258669 scopus 로고
    • Distribution of the estimators for autoregressive time series with a unit root
    • Dickey, D. A. and Fuller, W. A. (1979). Distribution of the estimators for autoregressive time series with a unit root. Journal of the American Statistical Association, 74, 427-31.
    • (1979) Journal of the American Statistical Association , vol.74 , pp. 427-431
    • Dickey, D.A.1    Fuller, W.A.2
  • 14
    • 84977368332 scopus 로고
    • Is the deficit too large?
    • Hakkio, C. and Rush, M. (1991). Is the deficit too large? Economic Inquiry, 29, 429-45.
    • (1991) Economic Inquiry , vol.29 , pp. 429-445
    • Hakkio, C.1    Rush, M.2
  • 15
    • 0000481916 scopus 로고
    • On the limitations of government borrowing: A framework for empirical testing
    • Hamilton, J. D. and Flavin, M. A. (1986). On the limitations of government borrowing: A framework for empirical testing. American Economic Review, 76, 808-19.
    • (1986) American Economic Review , vol.76 , pp. 808-819
    • Hamilton, J.D.1    Flavin, M.A.2
  • 16
    • 38249025292 scopus 로고
    • US federal indebtedness and the conduct of fiscal policy
    • Kremers, J. J. M. (1989). US federal indebtedness and the conduct of fiscal policy. Journal of Monetary Economics, 23, 219-38.
    • (1989) Journal of Monetary Economics , vol.23 , pp. 219-238
    • Kremers, J.J.M.1
  • 17
    • 0031504533 scopus 로고    scopus 로고
    • On segmented multivariate regressions
    • Liu, J., Wu, S. and Zidek, V. (1997). On segmented multivariate regressions. Statistica Sinica, 7, 497-527.
    • (1997) Statistica Sinica , vol.7 , pp. 497-527
    • Liu, J.1    Wu, S.2    Zidek, V.3
  • 19
    • 0002378331 scopus 로고
    • Critical values for cointegration tests
    • R. F. Engle and C. W. J. Granger (eds.) Oxford: Oxford University Press
    • MacKinnon, J. G. (1991). Critical values for cointegration tests. In R. F. Engle and C. W. J. Granger (eds.), Long-run Economic Relationships: Readings in Cointegration. Oxford: Oxford University Press.
    • (1991) Long-run Economic Relationships: Readings in Cointegration
    • MacKinnon, J.G.1
  • 20
    • 0000899296 scopus 로고
    • The great crash, the oil price shock, and the unit root hypothesis
    • Perron, P. (1989). The great crash, the oil price shock, and the unit root hypothesis. Econometrica, 57, 1361-1401.
    • (1989) Econometrica , vol.57 , pp. 1361-1401
    • Perron, P.1
  • 21
    • 0142013419 scopus 로고    scopus 로고
    • L'Estimation de modèles avec changements structurels multiples
    • Perron, P. (1997). L'Estimation de modèles avec changements structurels multiples. L'Actualitéeconomique, 73, 457-505.
    • (1997) L'Actualitéeconomique , vol.73 , pp. 457-505
    • Perron, P.1
  • 22
    • 21844518679 scopus 로고
    • Unit root tests in ARMA models with data-dependent methods for the selection of the truncation lag
    • Perron, P. and Ng, S. (1995). Unit root tests in ARMA models with data-dependent methods for the selection of the truncation lag. Journal of the American Statistical Association, 90, 268-81.
    • (1995) Journal of the American Statistical Association , vol.90 , pp. 268-281
    • Perron, P.1    Ng, S.2
  • 23
    • 38249026516 scopus 로고
    • A new test for structural stability in the linear regression model
    • Ploberger, W., Krämer, W. and Kontrus, K. (1989). A new test for structural stability in the linear regression model. Journal of Econometrics, 40, 307-18.
    • (1989) Journal of Econometrics , vol.40 , pp. 307-318
    • Ploberger, W.1    Krämer, W.2    Kontrus, K.3
  • 24
    • 0000433468 scopus 로고
    • Asymptotic theory of some tests for a possible change in the regression slope occurring at an unknown time point
    • Sen, P. K. (1980). Asymptotic theory of some tests for a possible change in the regression slope occurring at an unknown time point. Zeitschrift für Wahrscheinlichkeitstheorie und Verwandte Gebiete, 52, 203-18.
    • (1980) Zeitschrift Für Wahrscheinlichkeitstheorie Und Verwandte Gebiete , vol.52 , pp. 203-218
    • Sen, P.K.1
  • 25
    • 45549114624 scopus 로고
    • Common trends, the government budget constraint and revenue smoothing
    • Trehan, B. and Walsh, C. E. (1988). Common trends, the government budget constraint and revenue smoothing. Journal of Economics Dynamics and Control, 17, 423-41.
    • (1988) Journal of Economics Dynamics and Control , vol.17 , pp. 423-441
    • Trehan, B.1    Walsh, C.E.2
  • 26
  • 27
    • 38249003630 scopus 로고
    • The sustainability of current account deficits: A test of the US intertemporal budget constraint
    • Wickens, M. R. and Uctum, M. (1993). The sustainability of current account deficits: A test of the US intertemporal budget constraint. Journal of Economic Dynamics and Control, 17, 423-41.
    • (1993) Journal of Economic Dynamics and Control , vol.17 , pp. 423-441
    • Wickens, M.R.1    Uctum, M.2
  • 28
    • 0001449154 scopus 로고
    • The sustainability of government deficits: Implications of the present-value constraint
    • Wilcox, D. W. (1989). The sustainability of government deficits: implications of the present-value constraint. Journal of Money Credit and Banking, 21, 291-306.
    • (1989) Journal of Money Credit and Banking , vol.21 , pp. 291-306
    • Wilcox, D.W.1
  • 29
    • 33847378251 scopus 로고
    • Estimating the number of change-points via Schwarz's criterion
    • Yao, Y. C. (1988). Estimating the number of change-points via Schwarz's criterion. Statistics and Probability Letters, 6, 181-9.
    • (1988) Statistics and Probability Letters , vol.6 , pp. 181-189
    • Yao, Y.C.1
  • 30
    • 28444488750 scopus 로고
    • Further evidence on the great crash, the oil price shock, and the unit-root hypothesis
    • Zivot, E. and Andrew, D. (1992). Further evidence on the great crash, the oil price shock, and the unit-root hypothesis. Journal of Business and Economic Statistics, 10, 25-44.
    • (1992) Journal of Business and Economic Statistics , vol.10 , pp. 25-44
    • Zivot, E.1    Andrew, D.2


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.