António Afonso

University of Lisbon - ISEG (School of Economics and Management)

R. Miguel Lupi, 20

Lisbon, 1248-078

Portugal

http://www.iseg.ulisboa.pt/aquila/homepage/aafonso/research

UECE (Research Unit on Complexity and Economics)

Rua Miguel Lupi 20

Lisbon, 1249-078

Portugal

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

ISEG Lisbon School of Economics and Management,Universidade de Lisboa

Rua do Quelhas 6

LISBOA, 1200-781

Portugal

REM - Research in Economics and Mathematics

ISEG, Universidade de Lisboa

Rua Miguel Lupi, 20

Lisboa, 1249-078

Portugal

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

  • University of Lisbon - ISEG (School of Economics and Management)

    • Email
    • Tel: +351 21 392 5985
    • Fax: +351 21 396 6407

  • UECE (Research Unit on Complexity and Economics)

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

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

  • REM - Research in Economics and Mathematics

SCHOLARLY PAPERS

210

DOWNLOADS
Rank 1,480

SSRN RANKINGS

Top 1,480

in Total Papers Downloads

33,389

SSRN CITATIONS
Rank 1,621

SSRN RANKINGS

Top 1,621

in Total Papers Citations

479

CROSSREF CITATIONS

486

Scholarly Papers (210)

Actions:
Email selected abstracts
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
University of Lisbon - ISEG (School of Economics and Management), Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics and European Central Bank (ECB)
Downloads 1,188 (31,195)

Abstract:

Loading...

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

2.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 1,183 (31,382)
Citation 31

Abstract:

Loading...

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

3.

Public Sector Efficiency: An International Comparison

Downloads 1,179 (31,535)

Public Sector Efficiency: An International Comparison

Number of pages: 38 Posted: 22 Sep 2003
António Afonso, Ludger Schuknecht and Vito Tanzi
University of Lisbon - ISEG (School of Economics and Management), European Central Bank (ECB) and International Monetary Fund (IMF)
Downloads 1,179 (31,051)
Citation 10

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), European Central Bank (ECB) and International Monetary Fund (IMF)

Abstract:

Loading...

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

4.

The Determinants of Sovereign Bond Yield Spreads in the EMU

Downloads 1,014 (39,100)
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
University of Lisbon - ISEG (School of Economics and Management), University of Piraeus and University of Glasgow - Department of Economics
Downloads 924 (43,876)
Citation 24

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), University of Piraeus and University of Glasgow - Department of Economics
Downloads 90 (488,726)
Citation 23

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), Bundesministerium der Finanzen, European Central Bank (ECB) and FiFo Institute for Public Economics, University of Cologne
Downloads 965 (41,937)

Abstract:

Loading...

quality of public finances, efficiency, growth

6.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 713 (63,311)
Citation 31

Abstract:

Loading...

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

7.

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
University of Lisbon - ISEG (School of Economics and Management) and UECE - Research Unit on Complexity in Economics
Downloads 682 (67,157)
Citation 7

Abstract:

Loading...

government debt, economic growth, thresholds

8.

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

Number of pages: 29 Posted: 20 Feb 2002
António Afonso
University of Lisbon - ISEG (School of Economics and Management)
Downloads 662 (69,590)
Citation 11

Abstract:

Loading...

Credit ratings, sovereign debt

9.

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
University of Lisbon - ISEG (School of Economics and Management) and MISE-UVAL-Regional Public AccountsInstitute for Media EconomicsInternational University of Applied Sciences Bad Honnef-Bonn
Downloads 514 (95,406)
Citation 5

Abstract:

Loading...

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

10.

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

Downloads 513 (95,656)

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
University of Lisbon - ISEG (School of Economics and Management), European Central Bank (ECB) and Inter-American Development Bank (IADB)
Downloads 513 (94,643)
Citation 11

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), European Central Bank (ECB) and Inter-American Development Bank (IADB)

Abstract:

Loading...

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

11.

Efficiency of Local Government Spending: Evidence for the Lisbon Region

Number of pages: 32 Posted: 20 Nov 2003
António Afonso and Sónia Fernandes
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon
Downloads 508 (96,833)
Citation 8

Abstract:

Loading...

municipal expenditure, efficiency, production possibility frontier, FDH

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
University of Lisbon - ISEG (School of Economics and Management), University of Lisbon and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 431 (117,783)
Citation 2

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Malaga
Downloads 419 (122,077)
Citation 13

Abstract:

Loading...

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

14.

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
University of Lisbon - ISEG (School of Economics and Management)
Downloads 407 (125,854)
Citation 11

Abstract:

Loading...

fiscal policy, expansionary fiscal contractions, non-Keynesian effects

15.

Credit Rationing and Monetary Transmission: Evidence for Portugal

Downloads 396 (129,885)
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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 327 (159,125)
Citation 2

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 69 (573,560)

Abstract:

Loading...

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

16.

Economic Performance and Government Size

ECB Working Paper No. 1399
Number of pages: 44 Posted: 30 Nov 2011
António Afonso and João Tovar Jalles
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 389 (132,493)
Citation 25

Abstract:

Loading...

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

17.

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

Downloads 389 (132,493)

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
University of Lisbon - ISEG (School of Economics and Management) and Winton Capital Management
Downloads 265 (198,246)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and Winton Capital Management
Downloads 124 (388,932)

Abstract:

Loading...

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

18.

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
University of Lisbon - ISEG (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, Technical University of Lisbon (UTL) - School of Economics and Management and Technical University of Lisbon (UTL) - School of Economics and Management
Downloads 388 (132,880)
Citation 4

Abstract:

Loading...

Financial system, Economic growth, Panel analysis

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
University of Lisbon - ISEG (School of Economics and Management) and European Central Bank (ECB) - Directorate General Economics
Downloads 386 (133,749)
Citation 22

Abstract:

Loading...

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

20.

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
University of Lisbon - ISEG (School of Economics and Management) and MISE-UVAL-Regional Public AccountsInstitute for Media EconomicsInternational University of Applied Sciences Bad Honnef-Bonn
Downloads 376 (137,647)
Citation 4

Abstract:

Loading...

Technical efficiency, DEA, regional expenditure, Italy

21.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon
Downloads 350 (148,911)
Citation 9

Abstract:

Loading...

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

22.

Growth and Productivity: The Role of Government Debt

Downloads 349 (149,371)
Citation 13

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 349 (148,321)
Citation 13

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon

Abstract:

Loading...

government debt, crises, panel analysis

23.

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
University of Lisbon - ISEG (School of Economics and Management), University of Minnesota - Twin Cities and Inter-American Development Bank (IDB)
Downloads 340 (153,604)
Citation 21

Abstract:

Loading...

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

24.

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
University of Lisbon - ISEG (School of Economics and Management) and Instituto de Estudos Sociais e Economicos (IESE)
Downloads 328 (159,689)

Abstract:

Loading...

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

25.

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
University of Lisbon - ISEG (School of Economics and Management)
Downloads 328 (159,689)
Citation 8

Abstract:

Loading...

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

26.

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
University of Lisbon - ISEG (School of Economics and Management) and Economic Research and Forecasting Department (DGEP)
Downloads 320 (163,927)
Citation 8

Abstract:

Loading...

tertiary education, efficiency, production possibility frontier, DEA

27.

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

Downloads 318 (165,030)
Citation 4

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
University of Lisbon - ISEG (School of Economics and Management) and European Central Bank (ECB)
Downloads 318 (163,950)
Citation 4

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and European Central Bank (ECB)

Abstract:

Loading...

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

28.

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
University of Lisbon - ISEG (School of Economics and Management) and University of Minho
Downloads 295 (178,556)
Citation 15

Abstract:

Loading...

fiscal policy, Bayesian Structural VAR, debt dynamics

29.

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
University of Lisbon - ISEG (School of Economics and Management) and Economic Research and Forecasting Department (DGEP)
Downloads 295 (178,556)

Abstract:

Loading...

tertiary education, efficiency, DEA, Portugal

30.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 295 (178,556)
Citation 1

Abstract:

Loading...

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

31.

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

Downloads 294 (179,203)
Citation 30

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
University of Lisbon - ISEG (School of Economics and Management), University of Palermo and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics
Downloads 294 (178,127)
Citation 30

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), University of Palermo and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics

Abstract:

Loading...

credit ratings, sovereign yields, rating agencies

32.

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
University of Lisbon - ISEG (School of Economics and Management), University of Mannheim and International Monetary Fund (IMF) - Research Department
Downloads 292 (180,467)

Abstract:

Loading...

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

33.

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

Downloads 291 (181,092)
Citation 19

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
University of Lisbon - ISEG (School of Economics and Management) and University of Minho
Downloads 291 (180,028)
Citation 19

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Minho

Abstract:

Loading...

34.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon
Downloads 291 (181,092)
Citation 10

Abstract:

Loading...

Public hospitals, Data Envelopment Analysis, Malmquist indices, Portugal

35.

Government Size, Composition, Volatility and Economic Growth

Downloads 287 (183,739)
Citation 33

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
University of Lisbon - ISEG (School of Economics and Management) and University of Palermo
Downloads 287 (182,715)
Citation 33

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Palermo

Abstract:

Loading...

Fiscal policy, Government size, Fiscal volatility, Economic growth

36.

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

Downloads 286 (184,382)
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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 179 (287,344)
Citation 1

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 107 (434,003)
Citation 19

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics

Abstract:

Loading...

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

37.

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
University of Lisbon - ISEG (School of Economics and Management)
Downloads 278 (189,768)
Citation 7

Abstract:

Loading...

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

38.

Fiscal Policy, Housing and Stock Prices

Downloads 261 (202,203)
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
University of Lisbon - ISEG (School of Economics and Management) and University of Minho
Downloads 131 (372,763)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Minho
Downloads 130 (375,002)
Citation 5

Abstract:

Loading...

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

39.

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
University of Lisbon - ISEG (School of Economics and Management), Charles University in Prague - Institute of Economic Studies and European Central Bank (ECB) - Directorate General Economics
Downloads 254 (207,787)
Citation 2

Abstract:

Loading...

fiscal policy, financial markets, threshold VAR

40.

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

Downloads 251 (210,181)
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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 194 (267,350)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 57 (634,334)
Citation 11

Abstract:

Loading...

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

41.

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
University of Lisbon - ISEG (School of Economics and Management) and Economic Research and Forecasting Department (DGEP)
Downloads 250 (211,017)
Citation 1

Abstract:

Loading...

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

42.

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

Downloads 249 (211,840)
Citation 8

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 154 (327,345)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 95 (471,808)
Citation 8

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics

Abstract:

Loading...

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

43.

Ordered Response Models for Sovereign Debt Ratings

Downloads 249 (211,840)
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
University of Lisbon - ISEG (School of Economics and Management), Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics and European Central Bank (ECB)
Downloads 249 (210,952)
Citation 7

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics and European Central Bank (ECB)

Abstract:

Loading...

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

44.

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
University of Lisbon - ISEG (School of Economics and Management), University of Lisbon and University of Lisbon - ISEG School of Economics and Management
Downloads 243 (216,954)
Citation 3

Abstract:

Loading...

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

45.

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 242 (217,844)
Citation 5

Abstract:

Loading...

long-term yields, panel cointegration, bootstrap

46.

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

Downloads 238 (221,377)

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 238 (220,545)
Citation 4

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)

Abstract:

Loading...

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

47.

Sectoral Business Cycle Synchronization in the European Union

Downloads 227 (231,795)
Citation 3

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
University of Lisbon - ISEG (School of Economics and Management) and University of Palermo
Downloads 227 (231,037)
Citation 3

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Palermo

Abstract:

Loading...

EMU Enlargement, Stabilisation, Synchronization, Sectoral Business Cycle

48.

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
University of Lisbon - ISEG (School of Economics and Management), 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 224 (234,675)
Citation 3

Abstract:

Loading...

Government Size, Unemployment, Inflation, Emerging Market Economies

49.

Interactions between Private and Public Sector Wages

Downloads 217 (241,784)
Citation 15

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
University of Lisbon - ISEG (School of Economics and Management) and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics
Downloads 166 (306,928)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics
Downloads 51 (669,149)
Citation 16

Abstract:

Loading...

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

50.

Bank Regulation and Sovereign Risk: A Paradox

Downloads 206 (253,665)

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
University of Lisbon - ISEG (School of Economics and Management) and REM - Research in Economics and Mathematics
Downloads 171 (299,191)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and ISEG Lisbon School of Economics and Management
Downloads 35 (780,213)

Abstract:

Loading...

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

51.

How 'Big' Should Government Be?

REM Working Paper 078-2019
Number of pages: 18 Posted: 01 May 2019
António Afonso and Ludger Schuknecht
University of Lisbon - ISEG (School of Economics and Management) and European Central Bank (ECB)
Downloads 204 (255,999)
Citation 2

Abstract:

Loading...

government size, government efficiency, DEA, advanced economies

52.

Assessing Public Spending Efficiency in 20 OECD Countries

Downloads 197 (264,224)
Citation 15

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon - ISEG School of Economics and Management
Downloads 197 (263,703)
Citation 15

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon - ISEG School of Economics and Management

Abstract:

Loading...

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

53.

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

Downloads 195 (266,571)
Citation 2

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 109 (428,163)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 86 (503,154)
Citation 2

Abstract:

Loading...

fiscal sustainability, EU, panel cointegration

54.

Income Distribution Determinants and Public Spending Efficiency

Downloads 190 (272,914)

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
University of Lisbon - ISEG (School of Economics and Management), European Central Bank (ECB) and Inter-American Development Bank (IADB)
Downloads 190 (272,493)
Citation 15

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), European Central Bank (ECB) and Inter-American Development Bank (IADB)

Abstract:

Loading...

Income Redistribution, Public Spending, Efficiency, DEA

55.

Determinants of the Degree of Fiscal Sustainability

Downloads 189 (274,220)

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
University of Lisbon - ISEG (School of Economics and Management), UECE - Research Unit on Complexity in Economics and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 99 (458,774)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), UECE - Research Unit on Complexity in Economics and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 90 (488,726)

Abstract:

Loading...

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

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
University of Lisbon - ISEG (School of Economics and Management), Université de Lille, LEM - CNRS (UMR 9221), University of Lisbon and Cracow University of Economics
Downloads 180 (286,161)
Citation 4

Abstract:

Loading...

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

57.

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 174 (294,888)
Citation 10

Abstract:

Loading...

Budget balance, external balance, EU, panel cointegration

58.

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

Downloads 166 (306,913)

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 166 (306,928)
Citation 8

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics

Abstract:

Loading...

panel causality, fiscal policy, EU

59.

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

Downloads 162 (313,354)
Citation 7

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
University of Lisbon - ISEG (School of Economics and Management) and University of Malaga - Departamento de Teoría e Historia Económics
Downloads 162 (313,410)
Citation 7

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Malaga - Departamento de Teoría e Historia Económics

Abstract:

Loading...

Economic growth, Panel models, Fiscal policy, EU

60.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 161 (315,052)

Abstract:

Loading...

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

61.

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

Downloads 154 (327,058)

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
University of Lisbon - ISEG (School of Economics and Management) and University of Porto, cef.up, Faculdade de Economia
Downloads 154 (327,345)
Citation 4

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Porto, cef.up, Faculdade de Economia

Abstract:

Loading...

yield curve, fiscal policy, financial markets

62.

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
University of Lisbon - ISEG (School of Economics and Management) and Bank of Portugal
Downloads 153 (328,817)

Abstract:

Loading...

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

63.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon (UTL)
Downloads 150 (334,228)
Citation 2

Abstract:

Loading...

Fiscal Multiplier, Structural VAR, Fiscal Policy

64.

The Size of Government

REM Working Paper 0129-2020
Number of pages: 36 Posted: 22 Jun 2020
António Afonso, Ludger Schuknecht and Vito Tanzi
University of Lisbon - ISEG (School of Economics and Management), Bundesministerium der Finanzen and Inter-American Development Bank (IADB)
Downloads 149 (336,047)

Abstract:

Loading...

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

65.

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
University of Lisbon - ISEG (School of Economics and Management) and Bank of Portugal
Downloads 149 (336,047)
Citation 6

Abstract:

Loading...

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

66.

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
University of Lisbon - ISEG (School of Economics and Management) and affiliation not provided to SSRN
Downloads 145 (343,431)

Abstract:

Loading...

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

67.

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon - ISEG School of Economics and Management
Downloads 136 (361,233)

Abstract:

Loading...

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

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
University of Lisbon - ISEG (School of Economics and Management), University of Lisbon and ISEG Lisbon School of Economics and Management,Universidade de Lisboa
Downloads 130 (373,855)

Abstract:

Loading...

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

69.

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 128 (378,219)
Citation 4

Abstract:

Loading...

government expenditures, goverment revenues, panel causality, GMM

70.

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
University of Lisbon - ISEG (School of Economics and Management) and Bank of Portugal
Downloads 128 (378,219)

Abstract:

Loading...

Government efficiency, excess burden, taxes, spending

71.

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon - ISEG School of Economics and Management
Downloads 127 (380,415)

Abstract:

Loading...

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

72.

Ricardian Fiscal Regimes in the European Union

Downloads 126 (382,806)

Ricardian Fiscal Regimes in the European Union

ECB Working Paper No. 558
Number of pages: 46 Posted: 05 Dec 2005
António Afonso
University of Lisbon - ISEG (School of Economics and Management)
Downloads 126 (384,137)
Citation 2

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management)

Abstract:

Loading...

Fiscal regimes, European Union, Panel data models

73.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon (UTL)
Downloads 125 (385,151)
Citation 1

Abstract:

Loading...

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

74.

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 125 (385,151)
Citation 7

Abstract:

Loading...

Budget deficit, budget decomposition, panel analysis, panel causality

75.

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
University of Lisbon - ISEG (School of Economics and Management) and University of OrleansIZA Institute of Labor Economics
Downloads 125 (385,151)
Citation 2

Abstract:

Loading...

panel causality, fiscal policy, EU

76.

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
University of Lisbon - ISEG (School of Economics and Management), University of Mannheim - Department of Economics and International Monetary Fund (IMF) - Research Department
Downloads 123 (389,835)
Citation 8

Abstract:

Loading...

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

77.

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
University of Lisbon - ISEG (School of Economics and Management) and ISEG - School of Economics and Management
Downloads 120 (396,994)
Citation 2

Abstract:

Loading...

interactions, monetary policy, fiscal policy, reaction functions

78.

Appraising Fiscal Reaction Functions

Downloads 120 (396,994)
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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 120 (398,661)
Citation 1

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon

Abstract:

Loading...

fiscal regimes, Panel VAR, cross-sectional dependence

79.

The Dynamic Behaviour of Budget Components and Output

Downloads 119 (399,375)

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 University of Lisbon - ISEG (School of Economics and Management)
Downloads 119 (401,099)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and Vrije Universiteit Brussel (VUB) - Faculty of Economic, Social and Political Sciences

Abstract:

Loading...

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

80.

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
University of Lisbon - ISEG (School of Economics and Management)
Downloads 119 (399,375)

Abstract:

Loading...

Deficits, government debt, inflation, money stock

81.

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
University of Lisbon - ISEG (School of Economics and Management) and University of Palermo
Downloads 117 (404,398)
Citation 2

Abstract:

Loading...

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

82.

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
University of Lisbon - ISEG (School of Economics and Management) and Winton Capital Management
Downloads 112 (417,454)

Abstract:

Loading...

Government bonds, efficiency, non-linear tests, EU

83.

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon - ISEG School of Economics and Management
Downloads 111 (420,257)

Abstract:

Loading...

sovereign bonds, non-conventional monetary policy, panel data

84.

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

Downloads 110 (422,970)

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
University of Lisbon - ISEG (School of Economics and Management), UECE - Research Unit on Complexity in Economics, Lazarski University and University of Westminster
Downloads 61 (612,680)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), University of Lisbon, Lazarski University and University of Westminster
Downloads 49 (681,273)

Abstract:

Loading...

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

85.

Do Fiscal Rules Matter for Growth?

Downloads 110 (422,970)
Citation 2

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 110 (425,268)
Citation 2

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon

Abstract:

Loading...

fiscal rules, growth, government size, panel analysis

86.

Fiscal Policy Responsiveness, Persistence and Discretion

Downloads 109 (425,821)

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
University of Lisbon - ISEG (School of Economics and Management), University of Palermo - Department of Economics, Business and Statistics and University of Palermo
Downloads 109 (428,163)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), University of Palermo - Department of Economics, Business and Statistics and University of Palermo

Abstract:

Loading...

Fiscal Policy, Fiscal Volatility

87.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon (UTL) - School of Economics and Management
Downloads 108 (428,675)

Abstract:

Loading...

macro forecasts, revenue forecast errors, EU

88.

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
University of Lisbon - ISEG (School of Economics and Management) and Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics
Downloads 108 (428,675)
Citation 3

Abstract:

Loading...

Credit Ratings, Sovereign Debt, Rating Agencies

89.

Fiscal Consolidations in the Central and Eastern European Countries

Downloads 108 (428,675)

Fiscal Consolidations in the Central and Eastern European Countries

Number of pages: 43 Posted: 26 Apr 2005
António Afonso, Christiane Nickel and Philipp Rother
University of Lisbon - ISEG (School of Economics and Management), European Central Bank (ECB) and European Central Bank (ECB)
Downloads 108 (431,084)

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management), European Central Bank (ECB) and European Central Bank (ECB)

Abstract:

Loading...

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

90.

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
University of Lisbon - ISEG (School of Economics and Management), Technical University of Lisbon (UTL) - Centre for Applied Mathematics and Economics (CEMAPRE) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 103 (443,356)
Citation 4

Abstract:

Loading...

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

91.

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
University of Lisbon - ISEG (School of Economics and Management), Charles III University of MadridUniversity of London - Economics, Mathematics and Statistics and Universidad Carlos III de Madrid
Downloads 103 (443,356)

Abstract:

Loading...

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

92.

Fiscal Regimes in the EU

Downloads 103 (443,356)
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
University of Lisbon - ISEG (School of Economics and Management) and KU Leuven
Downloads 75 (547,006)
Citation 6

Abstract:

Loading...

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
University of Lisbon - ISEG (School of Economics and Management) and KU Leuven
Downloads 28 (838,562)
Citation 9

Abstract:

Loading...

Fiscal regimes, Markov-switiching, EU

93.

Government Indebtedness and European Consumers Behaviour

ISEG Economics Department WP 12/2001/DE/CISEP
Number of pages: 24 Posted: 26 Oct 2002
António Afonso
University of Lisbon - ISEG (School of Economics and Management)
Downloads 102 (446,467)

Abstract:

Loading...

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

94.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon (UTL) - Department of Economics
Downloads 101 (449,611)
Citation 9

Abstract:

Loading...

EU, Business Cycle Synchronization

95.

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
University of Lisbon - ISEG (School of Economics and Management) and University of Lisbon
Downloads 99 (455,542)
Citation 5

Abstract:

Loading...

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

96.

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 University of Lisbon - ISEG (School of Economics and Management)
Downloads 99 (455,542)

Abstract:

Loading...

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

97.

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
University of Lisbon - ISEG (School of Economics and Management) and UECE - Research Unit on Complexity in Economics
Downloads 97 (461,807)
Citation 1

Abstract:

Loading...

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

98.

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
University of Lisbon - ISEG (School of Economics and Management) and Technical University of Lisbon - ISEG (School of Economics and Management)
Downloads 97 (461,807)

Abstract:

Loading...

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

99.

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
University of Lisbon - ISEG (School of Economics and Management), Université de Lille, LEM - CNRS (UMR 9221), University of Lisbon and Cracow University of Economics
Downloads 96 (464,934)

Abstract:

Loading...

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

100.

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

Downloads 94 (471,365)