US deficit sustainability revisited: a multiple structural change approach

• Autores: María del Carmen Díaz Roldán, Oscar Bajo Rubio, Vicente Esteve
• Localización: Papeles de trabajo del Instituto de Estudios Fiscales. Serie economía, ISSN 1578-0252, Nº 19, 2005, págs. 1-12
• Idioma: inglés
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• Resumen

  • In this paper we re-examine the long-run sustainability of US budget deficits, using Bai and Perron's multiple structural change approach. While the deficit would have been weakly sustainable over the full sample (1947:1-2004:3), strong sustainability would appear only between 1982:1 and 1995:4.