The determinants of public deficit volatility

Risultato della ricerca: Chapter

Abstract

This paper empirically analyzes the political, institutional and economic sources of public deficit volatility. Using the system-GMM estimator for linear dynamic panel data models and a sample of 125 countries analyzed from 1980 to 2006, we show that higher public deficit volatility is typically associated with higher levels of political instability and less democracy. In addition, public deficit volatility tends to be magnified for small countries, in the outcome of hyper-inflation episodes and forcountries with a high degree of openness.
Lingua originaleEnglish
Titolo della pubblicazione ospiteWORKING PAPER SERIES-EUROPEAN CENTRAL BANK
Numero di pagine26
Stato di pubblicazionePublished - 2009

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Public deficit
Economics
Openness
Small countries
GMM estimator
Dynamic panel data model
Political instability
Hyperinflation
Democracy
System-GMM

Cita questo

Agnello, L. (2009). The determinants of public deficit volatility. In WORKING PAPER SERIES-EUROPEAN CENTRAL BANK

The determinants of public deficit volatility. / Agnello, Luca.

WORKING PAPER SERIES-EUROPEAN CENTRAL BANK. 2009.

Risultato della ricerca: Chapter

Agnello, L 2009, The determinants of public deficit volatility. in WORKING PAPER SERIES-EUROPEAN CENTRAL BANK.
Agnello L. The determinants of public deficit volatility. In WORKING PAPER SERIES-EUROPEAN CENTRAL BANK. 2009
Agnello, Luca. / The determinants of public deficit volatility. WORKING PAPER SERIES-EUROPEAN CENTRAL BANK. 2009.
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