Modeling Fiscal Sustainability in Dynamic Macro-Panels with Heterogeneous Effects: Evidence from German Federal States

Feld, Lars P.; Koehler, Ekkehard A.; Wolfinger, Julia

doi:10.2139/ssrn.3190987

Cited by 3 publications

(2 citation statements)

References 14 publications

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“…Related to fiscal surplus, scholars have addressed budget deficits (Alt & Lowry, 1994; Barro, 1986), and several studies have examined fiscal surplus (Bohn, 1998; Feld et al, 2020; Mahdavi, 2014; Potrafke & Reischmann, 2015). Among them, Mahdavi (2014) directly evaluated the determinants of the primary surplus ratio in US states via panel data analysis.…”

Section: Literature Reviewmentioning

confidence: 99%

Using dynamic common correlated effects approach to analyze the role of sin taxes in short‐ and long‐term fiscal surplus across US states

Kim

2022

Public Budgeting & Finance

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This study empirically analyzes the role of sin taxes in short‐ and long‐run fiscal surplus and across US states via dynamic common correlated effects mean group (DCCEMG) and dynamic common correlated effects pooled mean group estimation (DCCEPMG) during a 36‐year period (1980–2015). Sin tax revenue increases long‐run fiscal surplus for all states, as shown in the log–log model; it also promotes short‐run state fiscal surplus for high‐income states, conservative state governments, and nonsouthern states. Compared to overall tax revenues that are elastic, sin taxes are inelastic revenue sources that promote states' long‐run fiscal surplus. Findings suggest that the effect of sin tax revenue on fiscal surplus varies based on state characteristics. This study contributes to the literature theoretically and practically. First, it marks an initial attempt to link sin taxes with states' fiscal conditions. Second, this study applies recent methodologies such as DCCEMG and DCCEPMG. Results offer practitioners valuable insight into the impacts of sin taxes on long‐run fiscal conditions.

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Section: Literature Reviewmentioning

confidence: 99%

Using dynamic common correlated effects approach to analyze the role of sin taxes in short‐ and long‐term fiscal surplus across US states

Kim

2022

Public Budgeting & Finance

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“…Several previous studies use the nonstationary panel method to estimate panel data with large N and T, where N can be a country, state, region, etc. See, among others,Ciarlone (2011),Eberhardt and Presbitero (2015),Feld et al (2020), andFuinhas et al (2015).…”

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confidence: 99%

The Impact of Domestic Investors’ Participation in Government Debt on Bank Loans to the Private Sector: A Cross-Country Study

Adamanti

Safuan

Husodo

2022

bemp

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This study analyzes the impact of domestic investors’ participation in government debt on bank loans to the private sector in advanced and emerging countries. We find that domestic bank participation in government debt has a more profound negative impact on bank loans to the private sector in advanced than in emerging countries. Meanwhile, domestic non-bank participation in government debt only negatively impacts bank loans to private sector in emerging countries. While both domestic bank and non-bank participation in government debt have a negative impact on bank loans to the private sector in emerging countries, the latter has a weaker impact.

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The Impact of Domestic Investors’ Participation in Government Debt on Bank Loans to the Private Sector: A Cross-Country Study

Adamanti

Safuan

Husodo

2022

BEMP

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Modeling Fiscal Sustainability in Dynamic Macro-Panels with Heterogeneous Effects: Evidence from German Federal States

Cited by 3 publications

References 14 publications

Using dynamic common correlated effects approach to analyze the role of sin taxes in short‐ and long‐term fiscal surplus across US states

Using dynamic common correlated effects approach to analyze the role of sin taxes in short‐ and long‐term fiscal surplus across US states

The Impact of Domestic Investors’ Participation in Government Debt on Bank Loans to the Private Sector: A Cross-Country Study

The Impact of Domestic Investors’ Participation in Government Debt on Bank Loans to the Private Sector: A Cross-Country Study

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