Amici, Elena (A.A. 2024/2025) Fiscal behaviour and public debt sustainability in advanced economies (1970–2024): evidence from fiscal reaction functions. Tesi di Laurea in Macroeconomic analysis, Luiss Guido Carli, relatore Pietro Reichlin, pp. 100. [Master's Degree Thesis]

PDF (Full text) Restricted to Registered users only Download (1MB) | Request a copy

Abstract/Index

Relevance of public debt sustainability and historical context (1970-2024). Fiscal sustainability and the fiscal reaction function: theoretical foundations and institutional benchmarks. Theoretical framework and review of literature. Theoretical foundations of debt sustainability. Reduced-form empirical tests: stationarity and cointegration approaches. Model-based sustainability tests: fiscal reaction functions. The Mendoza–Ostry framework for fiscal solvency. Non-linear fiscal response and fiscal fatigue. Empirical methodology and data. Empirical objective: testing fiscal sustainability via the FRF. Fiscal reaction function: theoretical specification. Econometric model specification and estimation. Results. Baseline specification. Extension: high debt and low debt groups. Extension: country-specific FRFs. Interpretation and caution: sufficiency of FRF vs necessity. Methodological limitations and directions for future research.

References

Bibliografia: pp. 90-93.

Thesis Type:	Master's Degree Thesis
Institution:	Luiss Guido Carli
Degree Program:	Master's Degree Programs > Master's Degree Program in Economics and Finance (LM-56)
Chair:	Macroeconomic analysis
Thesis Supervisor:	Reichlin, Pietro
Thesis Co-Supervisor:	Traficante, Guido
Academic Year:	2024/2025
Session:	Extraordinary
Deposited by:	Alessandro Perfetti
Date Deposited:	14 Jul 2026 12:31
Last Modified:	14 Jul 2026 12:31
URI:	https://tesi.luiss.it/id/eprint/46386

Downloads

Repository Staff Only

View Item