António Afonso

ISEG Lisbon School of Economics and Management,Universidade de Lisboa

Rua do Quelhas 6

LISBOA, 1200-781

Portugal

http://https://www.iseg.ulisboa.pt/

UECE (Research Unit on Complexity and Economics)

Rua Miguel Lupi 20

Lisbon, 1249-078

Portugal

http://uece.rc.iseg.ulisboa.pt/

REM - Research in Economics and Mathematics

ISEG, Universidade de Lisboa

Rua Miguel Lupi, 20

Lisboa, 1249-078

Portugal

http://rem.rc.iseg.ulisboa.pt/

  • ISEG Lisbon School of Economics and Management,Universidade de Lisboa

  • UECE (Research Unit on Complexity and Economics)

    • Email
    • Tel: +351-213 925 912
    • Fax: +351-213 971 196

  • REM - Research in Economics and Mathematics

SCHOLARLY PAPERS

233

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601

CROSSREF CITATIONS

494

Scholarly Papers (233)

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1.

What 'Hides' Behind Sovereign Debt Ratings?

ECB Working Paper No. 711
Number of pages: 67 Posted: 19 Jan 2007
António Afonso, Pedro Gomes, Pedro Gomes and Philipp Rother
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics and European Central Bank (ECB)
Downloads 1,279 (31,608)

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credit ratings, sovereign debt, rating agencies, panel data, random effects ordered probit

2.

Public Sector Efficiency: An International Comparison

Downloads 1,220 (33,819)

Public Sector Efficiency: An International Comparison

Number of pages: 38 Posted: 22 Sep 2003
António Afonso, Ludger Schuknecht and Vito Tanzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, European Central Bank (ECB) and International Monetary Fund (IMF)
Downloads 1,220 (33,272)
Citation 10

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Government expenditure, Efficiency, Free Disposable Hull, Production possibility frontier

Public Sector Efficiency: An International Comparison

Public Choice, Vol. 123, No. 3-4, pp. 321-347, January 2005
Posted: 11 Aug 2005
António Afonso, Ludger Schuknecht and Vito Tanzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, European Central Bank (ECB) and International Monetary Fund (IMF)

Abstract:

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Government expenditure, efficiency, free disposable hull, production possibility frontier

3.

Non-Parametric Approaches to Education and Health Expenditure Efficiency in OECD Countries

ISEG-UTL Economics Working Paper No. 1/2004/DE/CISEP/UECE
Number of pages: 34 Posted: 18 Feb 2004
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 1,206 (34,341)
Citation 31

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expenditure and education, expenditure and health, expenditure efficiency, production possibility frontier, FDH, DEA

4.

The Determinants of Sovereign Bond Yield Spreads in the EMU

Downloads 1,153 (36,750)
Citation 18

The Determinants of Sovereign Bond Yield Spreads in the EMU

ISEG Economics Working Paper No. 36/2012/DE/UECE
Number of pages: 40 Posted: 24 Feb 2013
António Afonso, Michael Arghyrou and Alexandros Kontonikas
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Piraeus and University of Glasgow - Department of Economics
Downloads 1,035 (42,188)
Citation 27

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sovereign yields, government debt, panel analysis, credit ratings

The Determinants of Sovereign Bond Yield Spreads in the EMU

ECB Working Paper No. 1781
Number of pages: 39 Posted: 30 May 2015
António Afonso, Michael Arghyrou and Alexandros Kontonikas
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Piraeus and University of Glasgow - Department of Economics
Downloads 118 (460,840)
Citation 25

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sovereign yields, government debt, panel analysis, credit ratings

5.

Quality of Public Finances and Growth

Number of pages: 47 Posted: 28 Feb 2005
António Afonso, Werner Ebert, Ludger Schuknecht and Michael Thöne
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Bundesministerium der Finanzen, European Central Bank (ECB) and FiFo Institute for Public Economics, University of Cologne
Downloads 1,017 (43,867)

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quality of public finances, efficiency, growth

6.

The Role of Government Debt in Economic Growth

ISEG-UTL Economics Department Working Paper No. 16/2014/DE/UECE
Number of pages: 45 Posted: 03 Oct 2014
António Afonso and José Alves
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 995 (45,324)
Citation 7

Abstract:

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government debt, economic growth, thresholds

7.

Relative Efficiency of Health Provision: A DEA Approach with Non-Discretionary Inputs

ISEG-UTL Economics Working Paper No. 33/2006/DE/UECE
Number of pages: 32 Posted: 27 Dec 2006
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 763 (65,013)
Citation 31

Abstract:

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technical efficiency, health, DEA, bootstrap, semi-parametric

8.

Understanding the Determinants of Government Debt Ratings: Evidence for the Two Leading Agencies

Number of pages: 29 Posted: 20 Feb 2002
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 674 (76,230)
Citation 12

Abstract:

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Credit ratings, sovereign debt

9.

Efficiency of Local Government Spending: Evidence for the Lisbon Region

Number of pages: 32 Posted: 20 Nov 2003
António Afonso and Sónia Fernandes
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon
Downloads 529 (103,405)
Citation 8

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municipal expenditure, efficiency, production possibility frontier, FDH

10.

Public Sector Efficiency: Evidence for New EU Member States and Emerging Markets

Downloads 526 (104,108)
Citation 11

Public Sector Efficiency: Evidence for New EU Member States and Emerging Markets

ECB Working Paper No. 581
Number of pages: 52 Posted: 02 Feb 2006
António Afonso, Ludger Schuknecht and Vito Tanzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, European Central Bank (ECB) and Inter-American Development Bank (IADB)
Downloads 526 (102,888)
Citation 11

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government expenditure, efficiency, DEA, new EU member states, emerging markets

Public Sector Efficiency: Evidence for New EU Member States and Emerging Markets

Applied Economics, Vol. 42, No. 17, pp. 2147-2164, 2010
Posted: 13 Jun 2010 Last Revised: 12 Aug 2010
António Afonso, Ludger Schuknecht and Vito Tanzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, European Central Bank (ECB) and Inter-American Development Bank (IADB)

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government expenditure, efficiency, DEA, new EU member states, emerging markets

11.

An Assessment of Telecommunications Regulation Performance in the European Union

ISEG Economics Working Paper No. 07/2006/DE/UECE
Number of pages: 39 Posted: 15 May 2006
António Afonso, Carla Scaglioni, Carla Scaglioni and Carla Scaglioni
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and MISE-UVAL-Regional Public AccountsInstitute for Media EconomicsInternational University of Applied Sciences Bad Honnef-Bonn
Downloads 524 (104,593)
Citation 5

Abstract:

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Technical efficiency, DEA, telecommunications, regulated industries, National Regulatory Authorities, European Union

12.

Government Spending Efficiency, Measurement and Applications: A Cross-country Efficiency Dataset

REM Working Paper 0147-2020
Number of pages: 30 Posted: 02 Dec 2020
António Afonso, João Tovar Jalles and Ana Venâncio
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 487 (114,306)
Citation 6

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government spending efficiency, public sector performance, non-parametric estimation, DEA, OECD

13.

Financial Development and Economic Growth: A Study for OECD Countries in the Context of Crisis

REM Working Paper 046-2018
Number of pages: 22 Posted: 22 Aug 2018
António Afonso and Carmen Blanco Arana
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Malaga
Downloads 478 (116,887)
Citation 14

Abstract:

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Financial Development, Economic Growth, Panel Data, Random Effects Model

14.

Economic Performance and Government Size

ECB Working Paper No. 1399
Number of pages: 44 Posted: 30 Nov 2011
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 470 (119,269)
Citation 26

Abstract:

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Growth, institutions, fiscal rules, pooled mean group, common correlated effects

15.

Non-Keynesian Effects of Fiscal Policy in the Eu-15

ISEG Economics Department Working Paper No. 7/2001/DE/CISEP
Number of pages: 47 Posted: 09 Jul 2002
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 423 (134,899)
Citation 11

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fiscal policy, expansionary fiscal contractions, non-Keynesian effects

16.

Public Sector Efficiency: Evidence for Latin America

ISEG Economics Working Paper No. 20/2013/DE/UECE
Number of pages: 42 Posted: 09 Dec 2013
António Afonso, Alma Romero-Barrutieta and Emma Monsalve
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Minnesota - Twin Cities and Inter-American Development Bank (IDB)
Downloads 415 (137,984)
Citation 27

Abstract:

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public sector performance, technical efficiency, Tobit, DEA, Latin America, Caribbean

17.

Credit Rationing and Monetary Transmission: Evidence for Portugal

Downloads 407 (141,083)
Citation 2

Credit Rationing and Monetary Transmission: Evidence for Portugal

ISEG Economics Department Working Paper No. 7/98
Number of pages: 22 Posted: 17 Sep 2002
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 334 (174,207)
Citation 2

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credit rationing, credit market, banking, causality tests, Portugal

Credit Rationing and Monetary Transmission: Evidence for Portugal

Estudos de Economia, Vol. 19, No. 1, pp. 5-19, 1999
Number of pages: 15 Posted: 08 Mar 2004
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 73 (626,632)

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credit rationing, credit market, banking, causality tests, Portugal

18.

Non-Linear Tests of Weakly Efficient Markets: Evidence from Portugal

Downloads 403 (142,711)

Non-Linear Tests of Weakly Efficient Markets: Evidence from Portugal

ISEG Economics Department Working Paper No. 6/98
Number of pages: 24 Posted: 14 Nov 2003
António Afonso and João Teixeira
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Winton Capital Management
Downloads 274 (214,818)

Abstract:

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market efficiency, non-linearity tests, stock market, Portugal

Non-Linear Tests of Weakly Efficient Markets: Evidence from Portugal

Estudos de Economia, Vol. 9, No. 2, pp. 169-187, 1999
Number of pages: 19 Posted: 18 Apr 2005
António Afonso and João Teixeira
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Winton Capital Management
Downloads 129 (424,443)

Abstract:

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Market efficiency, non-linearity tests, stock market, Portugal

19.

Fiscal Behaviour in the European Union: Rules, Fiscal Decentralization and Government Indebtedness

ECB Working Paper No. 1054
Number of pages: 47 Posted: 07 May 2009
António Afonso and Sebastian Hauptmeier
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and European Central Bank (ECB) - Directorate General Economics
Downloads 400 (143,971)
Citation 27

Abstract:

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fiscal regimes, fiscal rules, fiscal decentralization, European Union, panel Data

20.

Intermediaries, Financial Markets and Growth: Some More International Evidence

ISEG-UTL Department of Economics Working Paper No. 2/2003/DE/CISEP
Number of pages: 25 Posted: 21 May 2003
António Afonso, Raquel Ferreira, Edmund Freitas, Celso Nobrega and José M. Pinheiro
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Technical University of Lisbon (UTL) - School of Economics and Management, Technical University of Lisbon (UTL) - School of Economics and Management, Technical University of Lisbon (UTL) - School of Economics and Management and Technical University of Lisbon (UTL) - School of Economics and Management
Downloads 398 (144,782)
Citation 4

Abstract:

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Financial system, Economic growth, Panel analysis

21.

Public Services Efficiency Provision in Italian Regions: A Non-Parametric Analysis

ISEG-UTL Economics Working Paper No. 2/2005/DE/CISEP
Number of pages: 25 Posted: 28 Mar 2005
António Afonso, Carla Scaglioni, Carla Scaglioni and Carla Scaglioni
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and MISE-UVAL-Regional Public AccountsInstitute for Media EconomicsInternational University of Applied Sciences Bad Honnef-Bonn
Downloads 390 (148,100)
Citation 4

Abstract:

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Technical efficiency, DEA, regional expenditure, Italy

22.

Growth and Productivity: The Role of Government Debt

Downloads 370 (157,050)

Growth and Productivity: The Role of Government Debt

Technical University of Lisbon Department of Economics Working Paper No. 13/2011/DE/UECE
Number of pages: 43 Posted: 24 Jul 2011
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 370 (155,750)
Citation 13

Abstract:

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government debt, crises, panel analysis

Growth and Productivity: The Role of Government Debt

International Review of Economics & Finance, Forthcoming
Posted: 24 Jun 2012
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon

Abstract:

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government debt, crises, panel analysis

23.

Assessing and Explaining the Relative Efficiency of Local Government: Evidence for Portuguese Municipalities

ISEG Economics Working Paper 19/2005/DE/UECE
Number of pages: 41 Posted: 16 Dec 2005
António Afonso and Sónia Fernandes
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon
Downloads 357 (163,386)
Citation 12

Abstract:

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local government, expenditure efficiency, technical efficiency, DEA, Tobit models

24.

Fiscal Policy Sustainability: Some Unpleasant European Evidence

ISEG Working Paper No. 12/2000/DE/CISEP
Number of pages: 34 Posted: 11 Jul 2002
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 346 (168,983)
Citation 8

Abstract:

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Deficit finance, inter-temporal budget constraint, fiscal policy sustainability

25.

The Macroeconomic Effects of Public Debt: An Empirical Analysis of Mozambique

REM Working Paper 029-2018
Number of pages: 37 Posted: 05 Mar 2018
António Afonso and Yasfir Ibraimo
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Instituto de Estudos Sociais e Economicos (IESE)
Downloads 338 (173,293)

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Economic growth, External Debt, Domestic Debt, Total Debt Service, Variance Decomposition, Vector Autogression, Mozambique

26.

Fiscal Policy Events and Interest Rate Swap Spreads: Evidence from the EU

Downloads 329 (178,405)

Fiscal Policy Events and Interest Rate Swap Spreads: Evidence from the EU

Number of pages: 53 Posted: 13 Feb 2004
António Afonso and Rolf Strauch
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and European Central Bank (ECB)
Downloads 329 (177,093)
Citation 4

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Fiscal policy events, Stability and Growth Pact, interest rate swap spreads

Fiscal Policy Events and Interest Rate Swap Spreads: Evidence from the EU

Journal of International Financial Markets, Institutions and Money, Vol. 17, No. 3, pp. 261-276, 2007
Posted: 11 Jun 2007
António Afonso and Rolf Strauch
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and European Central Bank (ECB)

Abstract:

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fiscal policy events, Stability and Growth Pact, interest rate swap spreads

27.

Students and Teachers: A DEA Approach to the Relative Efficiency of Portuguese Public Universities

ISEG-UTL Economics Working Paper No. 07/2005/DE/CISEP
Number of pages: 32 Posted: 12 Jul 2005
António Afonso and Mariana Santos
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Economic Research and Forecasting Department (DGEP)
Downloads 328 (178,974)
Citation 8

Abstract:

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tertiary education, efficiency, production possibility frontier, DEA

28.

Sovereign Credit Ratings and Financial Markets Linkages: Application to European Data

Downloads 311 (189,266)

Sovereign Credit Ratings and Financial Markets Linkages: Application to European Data

ECB Working Paper No. 1347
Number of pages: 45 Posted: 02 Jun 2011
António Afonso, Davide Furceri, Pedro Gomes and Pedro Gomes
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Palermo and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics
Downloads 311 (187,930)
Citation 35

Abstract:

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credit ratings, sovereign yields, rating agencies

Sovereign Credit Ratings and Financial Markets Linkages: Application to European Data

Journal of International Money and Finance, Vol. 31, No. 3, 2012
Posted: 24 Jun 2012
António Afonso, Davide Furceri, Pedro Gomes and Pedro Gomes
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Palermo and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics

Abstract:

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credit ratings, sovereign yields, rating agencies

29.

The Macroeconomic Effects of Fiscal Policy in Portugal: A Bayesian SVAR Analysis

Downloads 304 (193,977)

The Macroeconomic Effects of Fiscal Policy in Portugal: A Bayesian SVAR Analysis

ISEG-UTL Department of Economics Working Paper No. 09/2009/DE/UECE, University of Minho, NIPE Working Paper No. 3/2009
Number of pages: 31 Posted: 05 Feb 2009 Last Revised: 11 Feb 2009
António Afonso and Ricardo M. Sousa
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Minho
Downloads 304 (192,631)
Citation 19

Abstract:

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B-SVAR, fiscal policy, debt dynamics, Portugal

The Macroeconomic Effects of Fiscal Policy in Portugal: A Bayesian SVAR Analysis

Portuguese Economic Journal, Vol. 10, No. 1, 2011
Posted: 25 Apr 2011
António Afonso and Ricardo M. Sousa
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Minho

Abstract:

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30.

A DEA Approach to the Relative Efficiency of Portuguese Public Universities

Portuguese Journal of Management Studies, Vol. 13, No. 1, pp. 67-87, 2008
Number of pages: 21 Posted: 04 Mar 2008 Last Revised: 17 Jul 2008
António Afonso and Mariana Santos
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Economic Research and Forecasting Department (DGEP)
Downloads 303 (194,659)

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tertiary education, efficiency, DEA, Portugal

31.

The Macroeconomic Effects of Fiscal Policy

ECB Working Paper No. 991
Number of pages: 55 Posted: 25 Jan 2009
António Afonso and Ricardo M. Sousa
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Minho
Downloads 302 (195,335)
Citation 27

Abstract:

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fiscal policy, Bayesian Structural VAR, debt dynamics

32.

Macroeconomic Rates of Return of Public and Private Investment: Crowding-In and Crowding-Out Effects

ECB Working Paper No. 864, Manchester School, Vol. 77, No. S1, pp. 21-39, 2009
Number of pages: 56 Posted: 26 Feb 2008
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 302 (195,335)
Citation 1

Abstract:

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Fiscal policy, public investment, private investment, impulse response, vector autoregression, European Union

33.

Assessing Hospital Efficiency: Non-Parametric Evidence for Portugal

ISEG-UTL Economics Working Paper No. 07/2008/DE/UECE
Number of pages: 39 Posted: 11 Feb 2008
António Afonso and Sónia Fernandes
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon
Downloads 302 (195,335)
Citation 10

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Public hospitals, Data Envelopment Analysis, Malmquist indices, Portugal

34.

Fiscal Policy and Growth: Do Financial Crises Make a Difference?

ECB Working Paper No. 1217
Number of pages: 42 Posted: 28 Jun 2010
António Afonso, Hans Peter Gruener and Christina Elisabeth Kolerus
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Mannheim and International Monetary Fund (IMF) - Research Department
Downloads 301 (196,694)

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fiscal policy, financial crisis, growth, OECD, EU, panel analysis

35.

Government Size, Composition, Volatility and Economic Growth

Downloads 299 (197,352)

Government Size, Composition, Volatility and Economic Growth

ECB Working Paper No. 849
Number of pages: 45 Posted: 27 Jan 2008
António Afonso and Davide Furceri
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Palermo
Downloads 299 (196,028)
Citation 35

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fiscal policy, government size, fiscal volatility, economic growth

Government Size, Composition, Volatility and Economic Growth

European Journal of Political Economy, Vol. 26, No. 4, pp. 517–532, 2010
Posted: 01 Nov 2010
António Afonso and Davide Furceri
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Palermo

Abstract:

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Fiscal policy, Government size, Fiscal volatility, Economic growth

36.

Disturbing the Fiscal Theory of the Price Level: Can it Fit the Eu-15?

ISEG-UTL Dept. of Economics Working Paper No. 1/2002/DE/CISEP
Number of pages: 33 Posted: 27 May 2002
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 295 (200,219)
Citation 7

Abstract:

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fiscal theory of the price level, fiscal policy, EU-15, panel data models

37.

Bootstrap Panel Granger-Causality between Government Budget and External Deficits for the EU

Downloads 292 (202,408)
Citation 20

Bootstrap Panel Granger-Causality between Government Budget and External Deficits for the EU

CESifo Working Paper Series No. 2581
Number of pages: 22 Posted: 16 Mar 2009
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 182 (317,798)
Citation 1

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panel causality tests, budget deficit, external imbalance, real exchange rates, EU, OECD

Bootstrap Panel Granger-Causality between Government Budget and External Deficits for the EU

ISEG-UTL Economics Working Paper No. 02/2009/DE/UECE
Number of pages: 18 Posted: 23 Jan 2009
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 110 (479,828)
Citation 19

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panel causality tests, budget deficit, external imbalance, real exchange rates, EU, OECD

Bootstrap Panel Granger-Causality between Government Budget and External Deficits for the EU

Economics Bulletin, Vol. 29, No. 2, pp. 1036-1043, 2009
Posted: 25 Oct 2009
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics

Abstract:

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panel causality tests, budget deficit, external imbalance, real exchange rates, EU, OECD

38.

Fiscal Policy, Housing and Stock Prices

Downloads 290 (203,792)
Citation 2

Fiscal Policy, Housing and Stock Prices

ECB Working Paper No. 990
Number of pages: 45 Posted: 25 Jan 2009
António Afonso and Ricardo M. Sousa
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Minho
Downloads 150 (375,981)

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Bayesian Structural VAR, fiscal policy, housing prices, stock prices

Fiscal Policy, Housing and Stock Prices

ECB Working Paper No. 990
Number of pages: 45 Posted: 02 Feb 2009
António Afonso and Ricardo M. Sousa
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Minho
Downloads 140 (397,733)
Citation 6

Abstract:

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Bayesian Structural VAR, fiscal policy, housing prices, stock prices

39.

Revisiting Fiscal Sustainability: Panel Cointegration and Structural Breaks in OECD Countries

Downloads 287 (205,981)
Citation 5

Revisiting Fiscal Sustainability: Panel Cointegration and Structural Breaks in OECD Countries

ECB Working Paper No. 1465
Number of pages: 40 Posted: 05 Sep 2012
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 199 (292,820)

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debt, primary balance, fiscal regimes, stationarity, breaks, causality, panel cointegration, FMOLS

Revisiting Fiscal Sustainability: Panel Cointegration and Structural Breaks in OECD Countries

ISEG Economics Working Paper No. 29/2012/DE/UECE
Number of pages: 39 Posted: 25 Nov 2012
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 88 (559,953)
Citation 11

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debt, primary balance, fiscal regimes, stationarity, breaks, causality, panel

40.

The Effects of Macroeconomic, Fiscal and Monetary Policy Announcements on Sovereign Bond Spreads: An Event Study from the EMU

REM Working Paper 067-2019
Number of pages: 25 Posted: 28 Feb 2019
António Afonso, João Tovar Jalles and Mina Kazemi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and University of Lisbon - ISEG School of Economics and Management
Downloads 270 (220,091)
Citation 6

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sovereign yields, fiscal policy, monetary policy, event analysis, panel data

41.

Ordered Response Models for Sovereign Debt Ratings

Downloads 269 (220,091)
Citation 7

Ordered Response Models for Sovereign Debt Ratings

ISEG-UTL Economics Working Paper No. 34/2006/DE/UECE
Number of pages: 10 Posted: 27 Dec 2006
António Afonso, Pedro Gomes, Pedro Gomes and Philipp Rother
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics and European Central Bank (ECB)
Downloads 269 (218,793)
Citation 7

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ordered probit, ordered logit, random effects ordered probit, sovereign rating

Ordered Response Models for Sovereign Debt Ratings

Applied Economics Letters, Vol. 16, No. 8, pp. 769-773, 2009
Posted: 14 May 2009
António Afonso, Pedro Gomes, Pedro Gomes and Philipp Rother
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics and European Central Bank (ECB)

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ordered probit, ordered logit, random effects ordered probit, sovereign rating

42.

What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic

Downloads 264 (224,229)
Citation 11

What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic

ECB Working Paper No. 820
Number of pages: 56 Posted: 01 Nov 2007
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 162 (352,392)

Abstract:

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intertemporal budget constraint, fiscal sustainability, EU, panel unit root, panel cointegration

What Do We Really Know About Fiscal Sustainability in the EU? A Panel Data Diagnostic

CESifo Working Paper Series No. 2226
Number of pages: 52 Posted: 26 Feb 2008
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 102 (507,380)
Citation 8

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intertemporal budget constraint, fiscal sustainability, EU, panel unit root, panel cointegration

What Do We Really Know about Fiscal Sustainability in the EU? A Panel Data Diagnostic

Review of World Economics, Vol. 145, No. 4, pp. 731-755, 2010
Posted: 23 Feb 2010
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics

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intertemporal budget constraint, fiscal sustainability, EU, panel unit root, panel cointegration

43.

Fiscal Developments and Financial Stress: A Threshold VAR Analysis

ECB Working Paper No. 1319
Number of pages: 62 Posted: 11 Apr 2011
António Afonso, Jaromir Baxa and Michal Slavik
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Charles University in Prague - Institute of Economic Studies and European Central Bank (ECB) - Directorate General Economics
Downloads 263 (225,077)
Citation 2

Abstract:

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fiscal policy, financial markets, threshold VAR

44.

Determinants of the Degree of Fiscal Sustainability

Downloads 261 (226,731)

Determinants of the Degree of Fiscal Sustainability

CESifo Working Paper No. 10225
Number of pages: 24 Posted: 26 Jan 2023
António Afonso, José Alves and José Carlos Coelho
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 151 (373,902)

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fiscal reaction function, fiscal determinants, panel data, quantile regressions

Determinants of the Degree of Fiscal Sustainability

REM Working Paper 255-2023
Number of pages: 24 Posted: 04 Jan 2023
António Afonso, José Alves and José Coelho
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 110 (479,828)

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fiscal reaction function; fiscal determinants; panel data; quantile regressions

45.

Public Tertiary Education Expenditure in Portugal: A Non-Parametric Efficiency Analysis

ISEG-UTL Economics Working Paper No. 05/2004/DE/CISEP
Number of pages: 29 Posted: 22 Jun 2004
António Afonso and Mariana Santos
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Economic Research and Forecasting Department (DGEP)
Downloads 257 (230,302)
Citation 2

Abstract:

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Expenditure in tertiary education, efficiency, production possibility frontier, DEA

46.

Long-Run Determinants of Sovereign Yields

CESifo Working Paper Series No. 3155
Number of pages: 13 Posted: 17 Aug 2010
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 255 (232,087)
Citation 5

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long-term yields, panel cointegration, bootstrap

47.

Interactions between Private and Public Sector Wages

Downloads 253 (233,836)
Citation 16

Interactions between Private and Public Sector Wages

ECB Working Paper No. 971
Number of pages: 57 Posted: 29 Nov 2008
António Afonso, Pedro Gomes and Pedro Gomes
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics
Downloads 196 (296,919)

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public wages, private wages, employment

Interactions between Private and Public Sector Wages

IZA Discussion Paper No. 5322
Number of pages: 35 Posted: 22 Nov 2010
António Afonso, Pedro Gomes and Pedro Gomes
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics
Downloads 57 (712,713)
Citation 18

Abstract:

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public sector wages, private sector wages, employment, fiscal policy

48.

Cross-Country Efficiency of Secondary Education Provision: A Semi-Parametric Analysis with Non-Discretionary Inputs

Downloads 250 (236,605)
Citation 4

Cross-Country Efficiency of Secondary Education Provision: A Semi-Parametric Analysis with Non-Discretionary Inputs

Number of pages: 39 Posted: 21 Jun 2005
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 250 (235,434)
Citation 4

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education, technical efficiency, DEA, bootstrap, semi-parametric

Cross-Country Efficiency of Secondary Education Provision: A Semi-Parametric Analysis with Non-Discretionary Inputs

Economic Modelling, Vol. 23, No. 3, pp. 476-491, 2006
Posted: 30 May 2006
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)

Abstract:

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education, technical efficiency, DEA, bootstrap, semi-parametric

49.

Government Size, Unemployment, and Inflation Nexus in Eight Large Emerging Market Economies

REM Working Paper 038-2018
Number of pages: 39 Posted: 21 May 2018
António Afonso, Hüseyin Şen and Ayşe Kaya
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Yıldırım Beyazıt University, Faculty of Political Science, Public Finance Department and İzmir Katip Çelebi University, Faculty of Economics and Administrative Science, Public Finance Department
Downloads 249 (237,529)
Citation 3

Abstract:

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Government Size, Unemployment, Inflation, Emerging Market Economies

50.

Bank Regulation and Sovereign Risk: A Paradox

Downloads 240 (246,381)

Bank Regulation and Sovereign Risk: A Paradox

CESifo Working Paper No. 10434
Number of pages: 43 Posted: 23 May 2023
António Afonso and André Teixeira
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and REM - Research in Economics and Mathematics
Downloads 199 (292,820)

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banking regulation, fiscal policy, macroprudential policy, sovereign debt, sovereign risk

Bank Regulation and Sovereign Risk: A Paradox

Number of pages: 41 Posted: 13 May 2023 Last Revised: 15 Jul 2023
António Afonso and André Teixeira
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and ISEG Lisbon School of Economics and Management
Downloads 41 (822,160)

Abstract:

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bank regulation, fiscal policy, macroprudential policy, prudential regulation, sovereign debt, sovereign risk

51.

Sectoral Business Cycle Synchronization in the European Union

Downloads 230 (256,665)

Sectoral Business Cycle Synchronization in the European Union

ISEG-UTL Economics Working Paper No. 02/2007/DE/UECE
Number of pages: 26 Posted: 03 Jan 2007
António Afonso and Davide Furceri
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Palermo
Downloads 230 (255,578)
Citation 3

Abstract:

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EMU Enlargement, Stabilisation, Synchronization, Sectoral Business Cycle

Sectoral Business Cycle Synchronization in the European Union

Economics Bulletin, Vol. 29, No. 4, pp. 2996-3014, 2009
Posted: 07 Dec 2009
António Afonso and Davide Furceri
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Palermo

Abstract:

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EMU Enlargement, Stabilisation, Synchronization, Sectoral Business Cycle

52.

3-Step Analysis of Public Finances Sustainability: The Case of the European Union

Downloads 220 (267,636)
Citation 7

3-Step Analysis of Public Finances Sustainability: The Case of the European Union

ECB Working Paper No. 908
Number of pages: 48 Posted: 01 Jul 2008 Last Revised: 10 Sep 2023
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 119 (451,789)

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fiscal sustainability, EU, panel cointegration

3-Step Analysis of Public Finances Sustainability: The Case of the European Union

CESifo Working Paper Series No. 2393
Number of pages: 47 Posted: 09 Sep 2008
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 101 (510,994)
Citation 8

Abstract:

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fiscal sustainability, EU, panel cointegration

53.

How 'Big' Should Government Be?

REM Working Paper 078-2019
Number of pages: 18 Posted: 01 May 2019
António Afonso and Ludger Schuknecht
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and European Central Bank (ECB)
Downloads 217 (271,067)
Citation 2

Abstract:

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government size, government efficiency, DEA, advanced economies

54.

Assessing Public Spending Efficiency in 20 OECD Countries

Downloads 217 (271,067)

Assessing Public Spending Efficiency in 20 OECD Countries

ISEG Economics Department Working Paper No. WP 12/2016/DE/UECE
Number of pages: 41 Posted: 01 Jul 2016
António Afonso and Mina Kazemi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon - ISEG School of Economics and Management
Downloads 217 (270,036)
Citation 17

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Public Spending, Technical Efficiency, Public Sector Performance, Data Envelopment Analysis

Assessing Public Spending Efficiency in 20 OECD Countries

Inequality and Finance in Macrodynamics, Editors: Bökemeier, Bettina, Greiner, Alfred (Eds.), 2017. Springer.
Posted: 20 Jul 2017
António Afonso and Mina Kazemi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon - ISEG School of Economics and Management

Abstract:

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Public Spending, Technical Efficiency, Public Sector Performance, Data Envelopment Analysis

55.

Income Distribution Determinants and Public Spending Efficiency

Downloads 199 (293,661)
Citation 17

Income Distribution Determinants and Public Spending Efficiency

ECB Working Paper No. 861
Number of pages: 55 Posted: 01 Feb 2008
António Afonso, Ludger Schuknecht and Vito Tanzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, European Central Bank (ECB) and Inter-American Development Bank (IADB)
Downloads 199 (292,820)
Citation 17

Abstract:

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income redistribution, public spending, efficiency, DEA

Income Distribution Determinants and Public Spending Efficiency

Journal of Economic Inequality, Vol. 6, No. 3, pp. 367-389, 2010
Posted: 18 Jul 2010 Last Revised: 13 Sep 2010
António Afonso, Ludger Schuknecht and Vito Tanzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, European Central Bank (ECB) and Inter-American Development Bank (IADB)

Abstract:

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Income Redistribution, Public Spending, Efficiency, DEA

56.

Twin Deficits Revisited: A Role for Fiscal Institutions?

REM Working Paper 031-2018
Number of pages: 41 Posted: 22 Mar 2018
António Afonso, Florence Huart, João Tovar Jalles and Piotr Leszek Stanek
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Université de Lille, LEM - CNRS (UMR 9221), University of Lisbon and Cracow University of Economics
Downloads 189 (307,774)
Citation 4

Abstract:

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current account, fiscal balance, fiscal rules, panel data, system GMM

57.

Fiscal Multipliers in the Eurozone: A SVAR Analysis

REM Working Paper 047-2018
Number of pages: 28 Posted: 16 Aug 2018
António Afonso and Frederico Silva Leal
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon (UTL)
Downloads 183 (316,648)
Citation 2

Abstract:

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Fiscal Multiplier, Structural VAR, Fiscal Policy

58.

Budgetary and External Imbalances Relationship: A Panel Data Diagnostic

ECB Working Paper No. 961, CESifo Working Paper Series No. 2559
Number of pages: 47 Posted: 18 Nov 2008
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 182 (318,281)
Citation 10

Abstract:

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Budget balance, external balance, EU, panel cointegration

59.

Economic Growth and Public and Private Investment Returns

ISEG-UL Working Paper No. 14/2016/DE/UECE
Number of pages: 20 Posted: 18 Jul 2016
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 176 (327,995)

Abstract:

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Fiscal Policy, Public Investment, Private Investment, Impulse Response Functions, VAR

60.

Sovereign Debt Crisis in Portugal and in Spain

REM Working Paper 112-2019
Number of pages: 33 Posted: 09 Jan 2020
António Afonso and Nuno Verdial
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and affiliation not provided to SSRN
Downloads 174 (331,399)

Abstract:

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Sovereign debt, Yield spreads, Crises, Unconventional Monetary Policy, Portugal, Spain

61.

Spend-and-Tax: A Panel Data Investigation for the EU

Downloads 173 (333,079)

Spend-and-Tax: A Panel Data Investigation for the EU

CESifo Working Paper Series No. 2705
Number of pages: 12 Posted: 14 Jul 2009
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 173 (332,746)
Citation 17

Abstract:

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panel causality, fiscal policy, EU

Spend-and-Tax: A Panel Data Investigation for the EU

Economics Bulletin, Vol. 29, No. 4, pp. 2545-2551, 2009
Posted: 25 Oct 2009
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics

Abstract:

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panel causality, fiscal policy, EU

62.

The Size of Government

REM Working Paper 0129-2020
Number of pages: 36 Posted: 22 Jun 2020
António Afonso, Ludger Schuknecht and Vito Tanzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Bundesministerium der Finanzen and Inter-American Development Bank (IADB)
Downloads 169 (341,673)

Abstract:

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public spending; size of government; expenditure composition; public sector efficiency

63.

Economic Growth and Budgetary Components: A Panel Assessment for the EU

Downloads 168 (341,673)
Citation 11

Economic Growth and Budgetary Components: A Panel Assessment for the EU

ECB Working Paper No. 848
Number of pages: 56 Posted: 27 Jan 2008
António Afonso and Juan Gonzalez-Alegre
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Malaga - Departamento de Teoría e Historia Económics
Downloads 168 (341,450)
Citation 11

Abstract:

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economic growth, panel models, fiscal policy

Economic Growth and Budgetary Components: A Panel Assessment for the EU

Empirical Economics, Forthcoming
Posted: 13 Jun 2010
António Afonso and Juan Gonzalez-Alegre
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Malaga - Departamento de Teoría e Historia Económics

Abstract:

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Economic growth, Panel models, Fiscal policy, EU

64.

Level, Slope, Curvature of the Sovereign Yield Curve, and Fiscal Behaviour

Downloads 164 (348,797)

Level, Slope, Curvature of the Sovereign Yield Curve, and Fiscal Behaviour

ECB Working Paper No. 1276
Number of pages: 63 Posted: 11 Dec 2010
António Afonso and Manuel M. F. Martins
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Porto, cef.up, Faculdade de Economia
Downloads 164 (348,675)
Citation 9

Abstract:

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yield curve, fiscal policy, financial markets

Level, Slope, Curvature of the Sovereign Yield Curve, and Fiscal Behaviour

Journal of Banking and Finance, Vol. 36, No. 6, 2012
Posted: 24 Jun 2012
António Afonso and Manuel M. F. Martins
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Porto, cef.up, Faculdade de Economia

Abstract:

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yield curve, fiscal policy, financial markets

65.

Sovereign Yield Spreads in the EMU: Crisis and Structural Determinants

ISEG Economics Department Working Paper No. WP 09/2017/DE/UECE
Number of pages: 26 Posted: 11 Mar 2017
António Afonso and Frederico Silva Leal
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon (UTL)
Downloads 158 (359,872)
Citation 1

Abstract:

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Public Debt, Sovereign Spreads, Fiscal Policy, Financial Crisis, EMU

66.

The Transmission of Unconventional Monetary Policy to Bank Credit Supply: Evidence From the TLTRO

REM Working Paper 065-2019
Number of pages: 43 Posted: 08 Feb 2019
António Afonso and Joana Sousa-Leite
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Bank of Portugal
Downloads 157 (361,766)
Citation 9

Abstract:

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Unconventional Monetary Policy, TLTRO, Credit Supply, Lending Interest Rates, Bank-Lending Channel, Euro Area, Portugal

67.

The Monetary Transmission Mechanism in the Euro Area: Has It Changed with the EMU? A VAR Approach, with Fiscal Policy and Financial Stress Considerations

ISEG Economics Department Working Paper No. 10/2014/DE/UECE
Number of pages: 32 Posted: 27 Jul 2014
António Afonso and António Jorge Silva
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Bank of Portugal
Downloads 157 (361,766)

Abstract:

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monetary transmission mechanism, fiscal policy, financial stress, Euro area, vector autoregressions

68.

Taxation and Public Spending Efficiency: An International Comparison

REM Working Paper 080-2018
Number of pages: 40 Posted: 29 May 2019
António Afonso, João Tovar Jalles and Ana Venâncio
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 155 (365,698)

Abstract:

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government spending efficiency, public sector performance, tax structure, data envelopment analysis (DEA), Malmquist indices, non-parametric estimation, panel data, OECD

69.

The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area

Downloads 151 (373,646)
Citation 5

The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area

CESifo Working Paper No. 10558
Number of pages: 35 Posted: 21 Jul 2023
António Afonso, José Alves and Serena Ionta
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and Roma Tre University
Downloads 77 (607,549)
Citation 1

Abstract:

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monetary surprises, fiscal sustainability, local-projection models, fiscal-monetary policy mix, Euro area, Germany, Italy, Portugal

The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area

REM Working Paper 281-2023
Number of pages: 35 Posted: 17 Jul 2023
António Afonso, José Alves and Serena Ionta
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and Roma Tre University
Downloads 60 (695,380)

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monetary surprises, fiscal sustainability, local-projection models, fiscal-monetary policy mix, Euro area, Germany, Italy, Portugal

The Effects of Monetary Policy Surprises and Fiscal Sustainability Regimes in the Euro Area

Number of pages: 34 Posted: 31 Jan 2024
José Alves, António Afonso and Serena Ionta
University of Lisbon, ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Roma Tre University
Downloads 14 (1,089,954)
Citation 4

Abstract:

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monetary surprises, fiscal sustainability, local-projection models, fiscal-monetary policy mix, Euro area

70.

Exchange-Traded Funds as an Alternative Investment Option: A Case Study

REM Working Paper 022-2017
Number of pages: 32 Posted: 28 Dec 2017
António Afonso and Pedro Martins Cardoso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon - ISEG School of Economics and Management
Downloads 147 (381,873)

Abstract:

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Exchange-traded fund, Mutual fund, Performance evaluation, Tracking error, Price efficiency

71.

Sovereign Credit Rating Mismatches

ISEG Economics Department Working Paper No. WP 02/2017/DE/UECE
Number of pages: 39 Posted: 16 Jan 2017
António Afonso and André Albuquerque
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon - ISEG School of Economics and Management
Downloads 141 (394,825)

Abstract:

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sovereign ratings; split ratings; panel data; random effects ordered probit

72.

The Dynamic Behaviour of Budget Components and Output

Downloads 140 (396,998)

The Dynamic Behaviour of Budget Components and Output

ECB Working Paper No. 775
Number of pages: 48 Posted: 11 Jul 2007
Peter Claeys and António Afonso
Vrije Universiteit Brussel (VUB) - Faculty of Economic, Social and Political Sciences and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 140 (397,733)

Abstract:

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Fiscal indicator, structural balance, SGP, SVAR, short and long-term restrictions

The Dynamic Behaviour of Budget Components and Output

Economic Modelling, Vol. 25, No. 1, pp. 93-117, 2008
Posted: 04 Jan 2008
António Afonso and Peter Claeys
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Vrije Universiteit Brussel (VUB) - Faculty of Economic, Social and Political Sciences

Abstract:

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fiscal indicator, structural balance, output gap, SGP, EMU, SVAR, short and long-term restrictions

73.

Causality for the Government Budget and Economic Growth

Department of Economics, ISEG-UL, Working Paper nº WP07/2014/DE/UECE
Number of pages: 6 Posted: 28 Apr 2014
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 136 (405,975)
Citation 5

Abstract:

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government expenditures, goverment revenues, panel causality, GMM

74.

Public Debt and Economic Growth in Brazil

Number of pages: 41 Posted: 03 Mar 2021
António Afonso, Sergio Gadelha and Agatha Silva
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Universidade de Brasília (UnB) and ISEG, Universidade de Lisboa
Downloads 135 (408,392)
Citation 1

Abstract:

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Granger causality, Vector Autoregressive, Autoregressive Distributed Lag, government debt, economic growth, Brazil

75.

Excess Burden and the Cost of Inefficiency in Public Services Provision

ECB Working Paper No. 601
Number of pages: 45 Posted: 25 Apr 2006
António Afonso and Vítor Gaspar
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Bank of Portugal
Downloads 134 (410,832)

Abstract:

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Government efficiency, excess burden, taxes, spending

76.

Ricardian Fiscal Regimes in the European Union

Downloads 134 (410,832)
Citation 2

Ricardian Fiscal Regimes in the European Union

ECB Working Paper No. 558
Number of pages: 46 Posted: 05 Dec 2005
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 134 (411,864)
Citation 2

Abstract:

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fiscal regimes, European Union, panel data models

Ricardian Fiscal Regimes in the European Union

Empirica, Journal of Applied Economics and Economic Policy, Vol. 35, No. 3, 2008
Posted: 14 Jul 2008
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa

Abstract:

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Fiscal regimes, European Union, Panel data models

77.

The Macro Impact of the Portuguese Constitutional Court Decisions Regarding the Budgetary Proposals of the Portuguese Budget Law (2012, 2013, 2014)

ISEG-UL Economics Department Working Paper No. 06/2015/DE/UECECEMAPRE
Number of pages: 15 Posted: 14 Mar 2015
António Afonso, Jorge Caiado and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Technical University of Lisbon (UTL) - Centre for Applied Mathematics and Economics (CEMAPRE) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 133 (413,300)
Citation 4

Abstract:

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budget balance, fiscal consolidation, debt-to-GDP ratio, Portugal

78.

Fiscal Composition and Long-Term Growth

ECB Occasional Paper No. 1518
Number of pages: 45 Posted: 08 Mar 2013
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 133 (413,300)
Citation 7

Abstract:

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Budget deficit, budget decomposition, panel analysis, panel causality

79.

Causality between Public Deficits and Inflation: Some Tests for the Portuguese Case

Estudos de Economia, Vol. 13, No. 4, pp. 349-362, 1993
Number of pages: 14 Posted: 18 Apr 2005
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 131 (418,129)

Abstract:

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Deficits, government debt, inflation, money stock

80.

Financial, Institutional and Macroeconomic Determinants of Cross-Country Portfolio Equity Flows

Downloads 130 (420,621)

Financial, Institutional and Macroeconomic Determinants of Cross-Country Portfolio Equity Flows

REM Working Paper 0235-2022
Number of pages: 41 Posted: 08 Aug 2022
António Afonso, José Alves, Krzysztof Beck and Karen Jackson
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon, Lazarski University and University of Westminster
Downloads 74 (621,774)

Abstract:

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Cross-country equity flows, stock market returns, panel data, quantile regression, business cycle

Financial, Institutional, and Macroeconomic Determinants of Cross-Country Portfolio Equity Flows

CESifo Working Paper No. 9872
Number of pages: 41 Posted: 08 Aug 2022
António Afonso, José Alves, Krzysztof Beck and Karen Jackson
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon, Lazarski University and University of Westminster
Downloads 56 (718,815)

Abstract:

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cross-country equity flows, stock market returns, panel data, quantile regression, business cycle

81.

Fiscal Policy and Growth: Do Financial Crises Make a Difference?

Bank of Italy Occasional Paper
Number of pages: 22 Posted: 15 Jan 2012
António Afonso, H. P. Gruner and Christina Elisabeth Kolerus
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Mannheim - Department of Economics and International Monetary Fund (IMF) - Research Department
Downloads 130 (420,621)
Citation 8

Abstract:

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fiscal policy, financial crisis, growth, OECD, EU, panel analysis

82.

Appraising Fiscal Reaction Functions

Downloads 129 (423,069)
Citation 1

Appraising Fiscal Reaction Functions

ISEG-UTL Economics Working Paper No. 23/2011/DE/UECE
Number of pages: 16 Posted: 05 Nov 2011
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 129 (424,443)
Citation 1

Abstract:

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fiscal regimes, Panel VAR, cross-sectional dependence

Appraising Fiscal Reaction Functions

Economics Bulletin, 2011, 31 (4), 3320-3330
Posted: 24 Jun 2012
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon

Abstract:

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fiscal regimes, Panel VAR, cross-sectional dependence

83.

Bootstrap Panel Granger-Causality between Government Spending and Revenue

ISEG-UTL Economics Working Paper No. 39/2008/DE/UECE
Number of pages: 11 Posted: 07 Dec 2008
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 129 (423,069)
Citation 2

Abstract:

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panel causality, fiscal policy, EU

84.

Interactions between Monetary Policy and Fiscal Policy

ISEG-UTL Economics Department Working Paper No. 13/2014/DE/UECE
Number of pages: 31 Posted: 22 Sep 2014
António Afonso and Raquel Balhote
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and ISEG - School of Economics and Management
Downloads 125 (433,379)
Citation 2

Abstract:

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interactions, monetary policy, fiscal policy, reaction functions

85.

Do Fiscal Rules Lower Government Financing Costs?

REM Working Paper 015-2017
Number of pages: 22 Posted: 29 Nov 2017
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 124 (436,065)
Citation 5

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fiscal rules, sovereign yields, financing costs, impulse response functions, local projection

86.

Revenue Forecast Errors in the European Union

Department of Economics, ISEG-UL, Working Paper nº 02/2014/DE/UECE
Number of pages: 34 Posted: 05 Feb 2014
António Afonso and Rui Carvalho
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon (UTL) - School of Economics and Management
Downloads 124 (436,065)

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macro forecasts, revenue forecast errors, EU

87.

Fiscal Regimes in the EU

Downloads 123 (438,817)
Citation 4

Fiscal Regimes in the EU

ISEG Economics Working Paper No. 10/2013/DE/UECE
Number of pages: 37 Posted: 28 Apr 2013
António Afonso and Priscilla Toffano
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and KU Leuven
Downloads 86 (568,159)
Citation 6

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Fiscal regimes, Markov-switiching, EU

Fiscal Regimes in the EU

KU Leuven Center for Economic Studies Discussion Paper No. DPS13.06
Number of pages: 38 Posted: 07 May 2013
António Afonso and Priscilla Toffano
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and KU Leuven
Downloads 37 (854,296)
Citation 8

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Fiscal regimes, Markov-switiching, EU

88.

Euro Area Sovereign Yields and the Power of QE

ISEG Economics Department Working Paper No. WP 12/2017/DE/UECE
Number of pages: 9 Posted: 19 Jul 2017
António Afonso and Mina Kazemi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon - ISEG School of Economics and Management
Downloads 122 (441,550)

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sovereign bonds, non-conventional monetary policy, panel data

89.

Non-Linear Tests of Weakly Efficient Markets: Evidence from Government Bond Markets in the Euro Area

Cadernos do Mercado de Valores Mobiliarios, Vol. 3, pp. 45-70, 1999
Number of pages: 28 Posted: 18 Apr 2005
António Afonso and João Teixeira
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Winton Capital Management
Downloads 122 (441,550)

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Government bonds, efficiency, non-linear tests, EU

90.

Fiscal Policy Responsiveness, Persistence and Discretion

Downloads 120 (446,960)

Fiscal Policy Responsiveness, Persistence and Discretion

ECB Working Paper No. 954
Number of pages: 47 Posted: 20 Nov 2008
António Afonso, Luca Agnello and Davide Furceri
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Palermo - Department of Economics, Business and Statistics and University of Palermo
Downloads 120 (448,921)

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Fiscal Policy, Fiscal Volatility

Fiscal Policy Responsiveness, Persistence, and Discretion

Public Choice, Vol. 145, Nos. 3-4, pp. 503-530, 2010
Posted: 18 Jul 2010 Last Revised: 31 Oct 2010
António Afonso, Luca Agnello and Davide Furceri
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Palermo - Department of Economics, Business and Statistics and University of Palermo

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Fiscal Policy, Fiscal Volatility

91.

Do Fiscal Rules Matter for Growth?

Downloads 119 (449,739)

Do Fiscal Rules Matter for Growth?

ISEG Department of Economics Working Paper No. 07/2012/DE/UECE
Number of pages: 8 Posted: 23 Feb 2012
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 119 (451,789)
Citation 2

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fiscal rules, growth, government size, panel analysis

Do Fiscal Rules Matter for Growth?

Applied Economics Letters, Vol. 20, No. 1, 2013 (Forthcoming)
Posted: 24 Jun 2012
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon

Abstract:

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fiscal rules, growth, government size, panel analysis

92.

Business Cycle Synchronization and Insurance Mechanisms in the EU

ECB Working Paper No. 844
Number of pages: 37 Posted: 21 Dec 2007
António Afonso and Davide Furceri
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Palermo
Downloads 118 (452,583)
Citation 2

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Private savings, global imbalances, panel error correction model, pooled mean group estimation, emerging economies

93.

Does Government Spending Efficiency Improve Fiscal Sustainability?

CESifo Working Paper No. 9738
Number of pages: 29 Posted: 10 May 2022
António Afonso and José Alves
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 116 (458,557)
Citation 1

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fiscal sustainability, spending efficiency, panel data

94.

Sovereign Credit Ratings, Market Volatility, and Financial Gains

ECB Working Paper No. 1654
Number of pages: 54 Posted: 20 Mar 2014
António Afonso, Pedro Gomes, Pedro Gomes and Abderrahim Taamouti
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics and Universidad Carlos III de Madrid
Downloads 115 (461,521)

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sovereign ratings; yields; stock market returns; volatility; EGARCH; optimal portfolio; financial gain; risk management; value-at-risk

95.

Fiscal Consolidations in the Central and Eastern European Countries

Downloads 114 (464,549)

Fiscal Consolidations in the Central and Eastern European Countries

Number of pages: 43 Posted: 26 Apr 2005
António Afonso, Christiane Nickel and Philipp Rother
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, European Central Bank (ECB) and European Central Bank (ECB)
Downloads 114 (466,981)

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Fiscal policy, fiscal episodes, Central and Eastern Europe, Logit models

Fiscal Consolidations in the Central and Eastern European Countries

Review of World Economics, Vol. 142, No. 2, pp. 402-421, 2006
Posted: 15 Jul 2006
António Afonso, Christiane Nickel and Philipp Rother
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, European Central Bank (ECB) and European Central Bank (ECB)

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Fiscal policy, fiscal episodes, Central and Eastern Europe, Logit models

96.

Fiscal Sustainability in the EU: A Panel Data Diagnostic

Number of pages: 20 Posted: 02 Feb 2012
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 112 (470,757)
Citation 2

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intertemporal budget constraint, fiscal sustainability, EU, panel unit root, panel cointegration

97.

Do Fiscal Imbalances Deteriorate Sovereign Debt Ratings?

ISEG Economics Working Paper No. 24/2010/DE/UECE
Number of pages: 31 Posted: 27 Nov 2010
António Afonso, Pedro Gomes and Pedro Gomes
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics
Downloads 112 (470,757)
Citation 3

Abstract:

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Credit Ratings, Sovereign Debt, Rating Agencies

98.

Corruption and Economic Growth: Does the Size of the Government Matter?

REM Working Paper 164-2021
Number of pages: 35 Posted: 23 Feb 2021
António Afonso and Eduardo Rodrigues
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 111 (473,933)
Citation 1

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Corruption, Economic Growth, Government Size, Generalized Method of Moments, Forward Orthogonal Deviations

99.

Unemployment and financial development: evidence for OECD countries

REM WP 204-2021
Number of pages: 20 Posted: 16 Nov 2021
António Afonso and Carmen Blanco Arana
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Malaga
Downloads 109 (480,106)

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unemployment, financial development, panel data, OECD countries

100.

Revisiting Business Cycle Synchronisation in the European Union

ISEG Economics Working Paper No. 22/2010/DE/UECE
Number of pages: 37 Posted: 27 Nov 2010
António Afonso and Ana Sequeira
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon (UTL) - Department of Economics
Downloads 108 (483,253)
Citation 9

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EU, Business Cycle Synchronization

101.

Government Indebtedness and European Consumers Behaviour

ISEG Economics Department WP 12/2001/DE/CISEP
Number of pages: 24 Posted: 26 Oct 2002
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 108 (483,253)

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Deficit finance, Ricardian equivalence, Private consumption, European Union, panel data

102.

Reconsidering Wagner's Law: Evidence from the Functions of the Government

Department of Economics, ISEG-UL, Working Paper nº 09/2016/DE/UECE
Number of pages: 11 Posted: 06 Apr 2016
António Afonso and José Alves
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 106 (489,839)
Citation 1

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Fiscal Policies; Government spending; SUR estimation; Wagner’s Law

103.

Fiscal Sustainability, Fiscal Reactions, Pitfalls and Determinants

CESifo Working Paper No. 9635
Number of pages: 28 Posted: 22 Mar 2022
António Afonso and José Carlos Coelho
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 105 (493,226)

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fiscal sustainability, budget balance, public debt, panel data, time-varying coefficients, Eurozone, sovereign ratings

104.

Quantitative Easing and Sovereign Yield Spreads: Euro-Area Time-Varying Evidence

REM Working Paper 020-2017
Number of pages: 41 Posted: 11 Dec 2017
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 105 (493,226)
Citation 5

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sovereign bonds, fiscal policy, non-conventional monetary policy, time-varying coefficients, panel data

105.

Linking Investment and Fiscal Policies

Technical University of Lisbon – ISEG, Working Paper No. 16/2011/DE/UECE
Number of pages: 37 Posted: 18 Sep 2011
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 105 (493,226)
Citation 1

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budgetary decomposition, panel analysis, causality, non-linearities, fiscal-rules

106.

The Interplay between Monetary and Fiscal Policies in the EU

REM Working Paper 0153-2020
Number of pages: 26 Posted: 18 Feb 2021
António Afonso and Alexandre Sousa
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 104 (496,613)
Citation 3

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Monetary Policy, Fiscal Policy; Reaction Functions; Great Recession

107.

Assessing Education and Health Efficiency in OECD Countries Using Alternative Input Measures

Number of pages: 28 Posted: 09 Mar 2012
António Afonso and Miguel St. Aubyn
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 104 (496,613)

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expenditure and education, expenditure and health, spending efficiency, production possibility frontier, FDH, DEA

108.

The Dynamic Behaviour of Budget Components and Output - the Cases of France, Germany, Portugal, and Spain

ISEG-UTL Economics Working Paper No. 26/2006/DE/UECE
Number of pages: 48 Posted: 14 Nov 2006
Peter Claeys and António Afonso
Vrije Universiteit Brussel (VUB) - Faculty of Economic, Social and Political Sciences and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 104 (496,613)

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fiscal indicator, structural balance, output gap, SGP, EMU, SVAR, short and long-term restrictions

109.

Beyond Borders: Assessing the Influence of Geopolitical Tensions on Sovereign Risk Dynamics

Downloads 102 (503,448)
Citation 7

Beyond Borders: Assessing the Influence of Geopolitical Tensions on Sovereign Risk Dynamics

CESifo Working Paper No. 10801
Number of pages: 40 Posted: 11 Dec 2023
António Afonso, José Alves and Sofia Monteiro
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and ISEG, Universidade de Lisboa - ISEG - Universidade de Lisboa
Downloads 59 (701,191)
Citation 7

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geopolitical risk, world uncertainty, political tensions, sovereign risk, European economy, GMM, subprime crisis

Beyond Borders: Assessing the Influence of Geopolitical Tensions on Sovereign Risk Dynamics

REM Working Paper 0300-2023
Number of pages: 40 Posted: 01 Dec 2023
António Afonso, José Alves and Sofia Monteiro
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and ISEG, Universidade de Lisboa - ISEG - Universidade de Lisboa
Downloads 43 (806,993)

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Geopolitical Risk; World Uncertainty; Political Tensions; Sovereign Risk; European Economy; GMM; Subprime crisis

110.

Assessing the Sustainability of External Imbalances in the European Union

ISEG Economics Department Working Paper No. WP 10/2017/DE/UECE
Number of pages: 47 Posted: 15 Jun 2017
António Afonso, Florence Huart, João Tovar Jalles and Piotr Leszek Stanek
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Université de Lille, LEM - CNRS (UMR 9221), University of Lisbon and Cracow University of Economics
Downloads 102 (503,448)

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current account, exports, imports, net foreign assets, unit roots, structural breaks, cointegration, error-correction, cross-sectional dependence

111.

Anatomy of a Fiscal Débacle: The Case of Portugal

ISEG Economics Working Paper No. 01/2013/DE/UECE
Number of pages: 21 Posted: 07 Jan 2013
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 102 (503,448)
Citation 1

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Portugal, public finances, fiscal imbalances

112.

Short and Long-Run Behaviour of Long-Term Sovereign Bond Yields

CESifo Working Paper Series No. 3249
Number of pages: 38 Posted: 19 Nov 2010
António Afonso, Christophe Rault and Christophe Rault
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of OrleansIZA Institute of Labor Economics
Downloads 102 (503,448)
Citation 1

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Long-Term Yields, EU, Financial Integration, Panel Cointegration, Bootstrap

113.

Fiscal Episodes in the EMU: Elasticities and Non-Keynesian Effects

REM Working Paper 097-2019
Number of pages: 31 Posted: 11 Oct 2019
António Afonso and Frederico Silva Leal
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and Technical University of Lisbon (UTL)
Downloads 100 (510,279)

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Non-Keynesian Effects, Fiscal Episodes, Fiscal policy, Fiscal Elasticities, EMU

114.

Local property tax reform and municipality spending efficiency

Downloads 99 (513,780)

Local property tax reform and municipality spending efficiency

REM Working Paper 0210-2022
Number of pages: 37 Posted: 30 Dec 2021
António Afonso and Ana Venâncio
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 51 (750,603)

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public spending efficiency, local government, data envelopment analyis (DEA), local property tax reform

Local Property Tax Reform and Municipality Spending Efficiency

CESifo Working Paper No. 9538
Number of pages: 37 Posted: 31 Jan 2022
António Afonso and Ana Venâncio
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 48 (770,690)
Citation 1

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public spending efficiency, local government, data envelopment analysis (DEA), local property tax reform

115.

Assessment of Efficiency in Basic and Secondary Education in Tunisia: A Regional Analysis

ISEG Economics Working Paper No. 6/2013/DE/UECE
Number of pages: 46 Posted: 09 Mar 2013
António Afonso, Mohamed Ayadi and Sourour Ramzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Institut Supérieur de Gestion and institut supérieur de gestion de Tunis
Downloads 99 (513,780)
Citation 1

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basic and secondary education, efficiency, DEA, Tunisia

116.

Fiscal Volatility, Financial Crises and Growth

Downloads 99 (513,780)

Fiscal Volatility, Financial Crises and Growth

ISEG Economics Working Paper No. 06/2012/DE/UECE
Number of pages: 9 Posted: 23 Feb 2012
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 99 (518,082)

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growth, fiscal volatility, crises, panel analysis

Fiscal Volatility, Financial Crises and Growth

Applied Economics Letters, Vol. 19, No. 18, 2012
Posted: 24 Jun 2012
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon

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growth, fiscal volatility, crises, panel analysis

117.

Fiscal Regime Shifts in Portugal

ISEG-UTL Department of Economics Working Paper No. 41/2009/DE/UECE
Number of pages: 29 Posted: 25 Oct 2009
António Afonso, Peter Claeys and Ricardo M. Sousa
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Vrije Universiteit Brussel (VUB) - Faculty of Economic, Social and Political Sciences and University of Minho
Downloads 98 (517,206)
Citation 4

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fiscal regimes, Markov Switching, Portugal

118.

Monetary Policy Surprise Shocks Under Different Fiscal Regimes: A Panel Analysis of the Euro Area

Downloads 97 (520,684)

Monetary Policy Surprise Shocks Under Different Fiscal Regimes: A Panel Analysis of the Euro Area

CESifo Working Paper No. 10627
Number of pages: 40 Posted: 07 Sep 2023
António Afonso, José Alves and Serena Ionta
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and Roma Tre University
Downloads 54 (731,152)

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monetary policy surprises, public debt, fiscal sustainability, local-projection models, fiscal-monetary policy mix, Euro area

Monetary Policy Surprises Shocks Under Different Fiscal Regimes: A Panel Analysis of the Euro Area

REM Working Paper 0284-2023
Number of pages: 40 Posted: 24 Aug 2023
António Afonso, José Alves and Serena Ionta
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Lisbon and Roma Tre University
Downloads 43 (806,993)

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monetary policy surprises, public debt, fiscal sustainability, local-projection models, fiscal-monetary policy mix, Euro area.

119.

Sovereign Debt Effects and Composition: Evidence from Time-Varying Estimates

ISEG Economics Department Working Paper No. WP 03/2017/DE/UECE
Number of pages: 14 Posted: 20 Jan 2017
António Afonso and João Tovar Jalles
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon
Downloads 97 (520,684)
Citation 3

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120.

Assessing Productivity Performance of Basic and Secondary Education in Tunisia: A Malmquist Analysis

ISEG Economics Working Paper No. 19/2013/DE/UECE
Number of pages: 22 Posted: 08 Dec 2013
António Afonso, Mohamed Ayadi and Sourour Ramzi
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Institut Supérieur de Gestion and institut supérieur de gestion de Tunis
Downloads 96 (524,274)
Citation 1

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basic and secondary education, productivity change, efficiency change, DEA, Malmquist index

121.

On the Time-Varying Relationship between EMU Sovereign Spreads and Their Determinants

ISEG Economics Working Paper No. 05/2013/DE/UECE
Number of pages: 25 Posted: 25 Feb 2013
António Afonso, Michael Arghyrou, George Bagdatoglou and Alexandros Kontonikas
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, University of Piraeus, Timberlake Consultants and University of Glasgow - Department of Economics
Downloads 95 (527,871)
Citation 5

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euro area, crisis, spreads, time-series analysis, time-varying relationship

122.

Euro Area Sovereign Debt Crisis and Debt Mutualisation

ISEG Economics Department Working Paper No. WP xx/2016/DE/UECE
Number of pages: 36 Posted: 29 Feb 2016
António Afonso and Marcelo Alcântara
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon - School of Economics and Management
Downloads 94 (531,496)

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EMU, Euro area crisis, sovereign yields, government debt, debt mutualisation

123.

Public Finances in Portugal: A Brief Long-Run View

ISEG-UTL Economics Working Paper No. 01/2007/DE/CISEP/UECE
Number of pages: 30 Posted: 04 Jan 2007
António Afonso
ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 94 (531,496)
Citation 1

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public finances, Portugal, fiscal consolidations, compensation of employees

124.

Unconventional Monetary Policy in the Euro Area. Impacts on Loans, Employment, and Investment

CESifo Working Paper No. 9610
Number of pages: 37 Posted: 17 Mar 2022
António Afonso and Francisco Gomes Pereira
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and University of Lisbon - ISEG School of Economics and Management
Downloads 91 (542,609)

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unconventional monetary policy, difference-in-differences, euro area, employment, investment

125.

Determinants of Stock Market Correlation. Accounting for Model Uncertainty and Reverse Causality in a Large Panel Setting

CESifo Working Paper No. 9956
Number of pages: 38 Posted: 06 Oct 2022
António Afonso, Krzysztof Beck and Karen Jackson
ISEG Lisbon School of Economics and Management,Universidade de Lisboa, Lazarski University and University of Westminster
Downloads 88 (553,950)

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stock market correlations, stock market comovement, financial development, Bayesian model averaging, OECD countries

126.

Fiscal Regimes in the EU

ECB Working Paper No. 1529
Number of pages: 38 Posted: 08 May 2013
António Afonso and Priscilla Toffano
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and KU Leuven
Downloads 84 (569,803)
Citation 3

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Fiscal regimes, Markov-switiching, EU

127.

The Relationship Between Fiscal and Current Account Imbalances in OECD Economies

REM Working Paper 061-2018
Number of pages: 37 Posted: 19 Dec 2018
António Afonso and Philemon Kwame Opoku
ISEG Lisbon School of Economics and Management,Universidade de Lisboa and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 83 (573,854)

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Fiscal Imbalances, Current Account, Twin-Deficit, Panel Analysis