Please use this identifier to cite or link to this item:
https://doi.org/10.1007/s00181-012-0584-2
DC Field | Value | |
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dc.title | A segmented trend model to assess fiscal sustainability: The US experience 1929-2009 | |
dc.contributor.author | Abeysinghe, T. | |
dc.contributor.author | Jayawickrama, A. | |
dc.date.accessioned | 2014-05-05T10:25:19Z | |
dc.date.available | 2014-05-05T10:25:19Z | |
dc.date.issued | 2013-06 | |
dc.identifier.citation | Abeysinghe, T., Jayawickrama, A. (2013-06). A segmented trend model to assess fiscal sustainability: The US experience 1929-2009. Empirical Economics 44 (3) : 1129-1141. ScholarBank@NUS Repository. https://doi.org/10.1007/s00181-012-0584-2 | |
dc.identifier.issn | 03777332 | |
dc.identifier.uri | http://scholarbank.nus.edu.sg/handle/10635/52091 | |
dc.description.abstract | The academic literature has focused largely on testing for long-run fiscal sustainability. In this exercise we formulate a flexible regression model that can be used to assess the sustainability of a more recent build-up of fiscal deficits and debt that would be of major concern to policy makers. The analysis of US data shows that, after adjusting for some fundamentals, the gross Federal debt-income ratio has been growing at an unsustainable rate of 4 % per year since 2007. The net debt-income ratio does not show such a significant trend. Since not all government assets are readily available to reduce debt, significant positive trends in the gross debt-income ratio calls for policy actions. © 2012 Springer-Verlag. | |
dc.description.uri | http://libproxy1.nus.edu.sg/login?url=http://dx.doi.org/10.1007/s00181-012-0584-2 | |
dc.source | Scopus | |
dc.subject | Long-run and short-run fiscal sustainability | |
dc.subject | Present-value borrowing constraint | |
dc.subject | Rational expectations | |
dc.subject | Unadjusted and adjusted trends of debt ratios | |
dc.type | Article | |
dc.contributor.department | ECONOMICS | |
dc.description.doi | 10.1007/s00181-012-0584-2 | |
dc.description.sourcetitle | Empirical Economics | |
dc.description.volume | 44 | |
dc.description.issue | 3 | |
dc.description.page | 1129-1141 | |
dc.identifier.isiut | 000318553300005 | |
Appears in Collections: | Staff Publications |
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