US deficit sustainability revisited: a multiple structural change approach
In this article we re-examine the long-run sustainability of US budget deficits, using Bai and Perron's multiple structural change approach. While the deficit would have been weakly sustainable over the full sample (1947:1-2005:3), strong sustainability would appear only between January 1982 and February 1996.
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Document Type: Research Article
Publication date: 2008-06-01