期刊名称：Discussion Papers in Economics / Department of Economics, University of Surrey
出版年度：2010
卷号：2010
出版社：University of Surrey
摘要：We suggest a multivariate e¢ cient test of the .strong..scal sustainability hypo-
thesis, based on Horvath and Watson.s (1995) cointegration test when cointegration
vectors are pre-speci.ed. Using data for a set of developed and developing eco-
nomies, we show that, unlike our procedure, conventional methodologies tend to
penalize the sustainability hypothesis.
