{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,10,21]],"date-time":"2025-10-21T03:20:39Z","timestamp":1761016839923,"version":"3.37.3"},"reference-count":30,"publisher":"Springer Science and Business Media LLC","issue":"2","license":[{"start":{"date-parts":[[2010,5,13]],"date-time":"2010-05-13T00:00:00Z","timestamp":1273708800000},"content-version":"tdm","delay-in-days":0,"URL":"http:\/\/www.springer.com\/tdm"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Empir Econ"],"published-print":{"date-parts":[[2011,10]]},"DOI":"10.1007\/s00181-010-0369-4","type":"journal-article","created":{"date-parts":[[2010,5,11]],"date-time":"2010-05-11T23:21:11Z","timestamp":1273620071000},"page":"371-385","source":"Crossref","is-referenced-by-count":14,"title":["Assessing fiscal sustainability subject to policy changes: a Markov switching cointegration approach"],"prefix":"10.1007","volume":"41","author":[{"given":"Vasco J.","family":"Gabriel","sequence":"first","affiliation":[]},{"given":"Pataaree","family":"Sangduan","sequence":"additional","affiliation":[]}],"member":"297","published-online":{"date-parts":[[2010,5,13]]},"reference":[{"key":"369_CR1","doi-asserted-by":"crossref","first-page":"351","DOI":"10.1016\/0304-3932(95)01215-X","volume":"36","author":"S Ahmed","year":"1995","unstructured":"Ahmed S, Rogers JH (1995) Government budget deficits and trade deficits: are present value constraints satisfied in long-term data? J Monet Econ 36: 351\u2013374","journal-title":"J Monet Econ"},{"key":"369_CR2","doi-asserted-by":"crossref","first-page":"1048","DOI":"10.1016\/j.econmod.2007.04.004","volume":"24","author":"F Alexandre","year":"2007","unstructured":"Alexandre F, Bacao P, Gabriel VJ (2007) Volatility in asset prices and long-run wealth effect estimates. Econ Model 24: 1048\u20131064","journal-title":"Econ Model"},{"key":"369_CR3","doi-asserted-by":"crossref","first-page":"953","DOI":"10.2307\/2951574","volume":"60","author":"DWK Andrews","year":"1992","unstructured":"Andrews DWK, Monahan JC (1992) An improved heteroskedasticity and autocorrelation consistent covariance matrix estimator. Econometrica 60: 953\u2013966","journal-title":"Econometrica"},{"key":"369_CR4","doi-asserted-by":"crossref","first-page":"878","DOI":"10.1016\/j.econmod.2007.03.002","volume":"24","author":"AZ Baharumshah","year":"2007","unstructured":"Baharumshah AZ, Lau E (2007) Regime changes and the sustainability of fiscal imbalance in East Asian countries. Econ Model 24: 878\u2013894","journal-title":"Econ Model"},{"key":"369_CR5","doi-asserted-by":"crossref","first-page":"1837","DOI":"10.1016\/j.jmoneco.2006.12.012","volume":"54","author":"H Bohn","year":"2007","unstructured":"Bohn H (2007) Are stationarity and cointegration restrictions really necessary for the intertemporal budget constraint? J Monet Econ 54: 1837\u20131847","journal-title":"J Monet Econ"},{"key":"369_CR6","doi-asserted-by":"crossref","unstructured":"Choi I, Saikkonen P (2009) Testing for nonlinear cointegration. Econ Theory (forthcoming)","DOI":"10.1017\/S0266466609990065"},{"key":"369_CR7","doi-asserted-by":"crossref","first-page":"39","DOI":"10.1016\/S0304-4076(99)00050-0","volume":"96","author":"V Corradi","year":"2000","unstructured":"Corradi V, Swanson NR, White H (2000) Testing for stationarity-ergodicity and for comovements between nonlinear discrete time Markov processes. J Econ 96: 39\u201373","journal-title":"J Econ"},{"key":"369_CR8","doi-asserted-by":"crossref","first-page":"305","DOI":"10.1016\/j.rfe.2005.11.002","volume":"15","author":"A Davies","year":"2006","unstructured":"Davies A (2006) Testing for international equity market integration using regime switching cointegration techniques. Rev Financ Econ 15: 305\u2013321","journal-title":"Rev Financ Econ"},{"key":"369_CR9","doi-asserted-by":"crossref","first-page":"213","DOI":"10.1016\/S0165-1765(02)00038-1","volume":"76","author":"VJ Gabriel","year":"2002","unstructured":"Gabriel VJ, Psaradakis Z, Sola M (2002) A simple method of testing for cointegration subject to multiple regime change. Econ Lett 76: 213\u2013221","journal-title":"Econ Lett"},{"key":"369_CR10","doi-asserted-by":"crossref","first-page":"99","DOI":"10.1016\/0304-4076(69)41685-7","volume":"70","author":"AW Gregory","year":"1996","unstructured":"Gregory AW, Hansen BE (1996a) Residual-based tests for cointegration in models with regime shifts. J Econ 70: 99\u2013126","journal-title":"J Econ"},{"key":"369_CR11","doi-asserted-by":"crossref","first-page":"555","DOI":"10.1111\/j.1468-0084.1996.mp58003008.x","volume":"58","author":"AW Gregory","year":"1996","unstructured":"Gregory AW, Hansen BE (1996b) Tests for cointegration in models with regime and trend shifts. Oxford Bull Econ Stat 58: 555\u2013560","journal-title":"Oxford Bull Econ Stat"},{"key":"369_CR12","first-page":"429","volume":"9","author":"CS Hakkio","year":"1991","unstructured":"Hakkio CS, Rush M (1991) Cointegration and government borrowing constraints: evidence for the United States. J Bus Econ Stat 9: 429\u2013445","journal-title":"J Bus Econ Stat"},{"key":"369_CR13","doi-asserted-by":"crossref","first-page":"151","DOI":"10.1002\/(SICI)1099-1255(199703)12:2<151::AID-JAE424>3.0.CO;2-J","volume":"12","author":"SG Hall","year":"1997","unstructured":"Hall SG, Psaradakis Z, Sola M (1997) Cointegration and changes in regime: the Japanese consumption function. J Appl Econ 12: 151\u2013168","journal-title":"J Appl Econ"},{"key":"369_CR14","first-page":"808","volume":"76","author":"JD Hamilton","year":"1986","unstructured":"Hamilton JD, Flavin MA (1986) On the limitations of government borrowing. A framework for testing. Am Econ Rev 76: 808\u2013819","journal-title":"Am Econ Rev"},{"key":"369_CR15","doi-asserted-by":"crossref","first-page":"321","DOI":"10.2307\/1391545","volume":"10","author":"BE Hansen","year":"1992","unstructured":"Hansen BE (1992) Tests for parameter instability in regressions with I(1) processes. J Bus Econ Stat 10: 321\u2013335","journal-title":"J Bus Econ Stat"},{"key":"369_CR16","doi-asserted-by":"crossref","first-page":"261","DOI":"10.1016\/S0304-4076(03)00085-X","volume":"114","author":"PR Hansen","year":"2003","unstructured":"Hansen PR (2003) Structural breaks in the cointegrated vector autoregressive model. J Econ 114: 261\u2013295","journal-title":"J Econ"},{"key":"369_CR17","doi-asserted-by":"crossref","first-page":"97","DOI":"10.2307\/1391944","volume":"9","author":"AA Haug","year":"1991","unstructured":"Haug AA (1991) Cointegration and government borrowing constraints: evidence for the United States. J Bus Econ Stat 9: 97\u2013101","journal-title":"J Bus Econ Stat"},{"key":"369_CR18","doi-asserted-by":"crossref","first-page":"104","DOI":"10.1111\/j.1465-7295.1995.tb01849.x","volume":"33","author":"AA Haug","year":"1995","unstructured":"Haug AA (1995) Has federal budget deficit policy changed in recent year? Econ Inq 33: 104\u2013118","journal-title":"Econ Inq"},{"key":"369_CR19","doi-asserted-by":"crossref","first-page":"231","DOI":"10.1016\/0165-1889(88)90041-3","volume":"12","author":"S Johansen","year":"1988","unstructured":"Johansen S (1988) Statistical analysis of cointegration vectors. J Econ Dyn Control 12: 231\u2013254","journal-title":"J Econ Dyn Control"},{"key":"369_CR20","doi-asserted-by":"crossref","first-page":"957","DOI":"10.1080\/13504850500119104","volume":"12","author":"H Kalyoncu","year":"2005","unstructured":"Kalyoncu H (2005) Fiscal policy sustainability: test of intertemporal borrowing constraints. Appl Econ Lett 12: 957\u2013962","journal-title":"Appl Econ Lett"},{"key":"369_CR21","doi-asserted-by":"crossref","DOI":"10.7551\/mitpress\/6444.001.0001","volume-title":"State-space models with regime switching","author":"CJ Kim","year":"1999","unstructured":"Kim CJ, Nelson CR (1999) State-space models with regime switching. MIT Press, Cambridge"},{"key":"369_CR22","unstructured":"Krolzig HM (1999) Statistical analysis of cointegrated VAR processes with Markovian shifts. Humboldt University Working Paper 373"},{"key":"369_CR23","doi-asserted-by":"crossref","first-page":"267","DOI":"10.1093\/oso\/9780198283393.003.0013","volume-title":"Long-run economic relationships","author":"JG MacKinnon","year":"1991","unstructured":"MacKinnon JG (1991) Critical values for cointegration tests. In: Engle RF, Granger CWJ (eds) Long-run economic relationships. Oxford University Press, Oxford, pp 267\u2013276"},{"key":"369_CR24","doi-asserted-by":"crossref","first-page":"83","DOI":"10.1002\/(SICI)1099-1255(200001\/02)15:1<83::AID-JAE543>3.0.CO;2-J","volume":"15","author":"GM Martin","year":"2000","unstructured":"Martin GM (2000) US deficit sustainability: a new approach based on multiple endogenous breaks. J Appl Econ 15: 83\u2013105","journal-title":"J Appl Econ"},{"key":"369_CR25","doi-asserted-by":"crossref","first-page":"775","DOI":"10.1080\/758528726","volume":"4","author":"JE Payne","year":"1997","unstructured":"Payne JE (1997) International evidence on the sustainability of budget deficits. Appl Econ Lett 4: 775\u2013779","journal-title":"Appl Econ Lett"},{"key":"369_CR26","doi-asserted-by":"crossref","first-page":"823","DOI":"10.1080\/00036840600749904","volume":"40","author":"JE Payne","year":"2008","unstructured":"Payne JE, Mohammadi H, Cak M (2008) Turkish budget deficit sustainability and the revenue-expenditure nexus. Appl Econ 40: 823\u2013830","journal-title":"Appl Econ"},{"key":"369_CR27","doi-asserted-by":"crossref","first-page":"69","DOI":"10.1002\/jae.729","volume":"19","author":"Z Psaradakis","year":"2004","unstructured":"Psaradakis Z, Sola M, Spagnolo F (2004) On Markov error-correction models, with and application to stock prices and dividends. J Appl Econ 19: 69\u201388","journal-title":"J Appl Econ"},{"key":"369_CR28","doi-asserted-by":"crossref","first-page":"409","DOI":"10.2307\/1392386","volume":"13","author":"CE Quintos","year":"1995","unstructured":"Quintos CE (1995) Sustainability of the deficit process with structural shifts. J Bus Econ Stat 13: 409\u2013417","journal-title":"J Bus Econ Stat"},{"key":"369_CR29","doi-asserted-by":"crossref","first-page":"783","DOI":"10.2307\/2951763","volume":"61","author":"JH Stock","year":"1993","unstructured":"Stock JH, Watson MW (1993) A simple estimator of cointegrating vectors in higher order integrated systems. Econometrica 61: 783\u2013820","journal-title":"Econometrica"},{"key":"369_CR30","doi-asserted-by":"crossref","first-page":"291","DOI":"10.2307\/1992415","volume":"21","author":"D Wilcox","year":"1989","unstructured":"Wilcox D (1989) The sustainability of government deficit: implications of the present-value borrowing constraint. J Money Credit Banking 21: 291\u2013306","journal-title":"J Money Credit Banking"}],"container-title":["Empirical Economics"],"original-title":[],"language":"en","link":[{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s00181-010-0369-4.pdf","content-type":"application\/pdf","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/article\/10.1007\/s00181-010-0369-4\/fulltext.html","content-type":"text\/html","content-version":"vor","intended-application":"text-mining"},{"URL":"http:\/\/link.springer.com\/content\/pdf\/10.1007\/s00181-010-0369-4","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,2,20]],"date-time":"2025-02-20T20:28:07Z","timestamp":1740083287000},"score":1,"resource":{"primary":{"URL":"http:\/\/link.springer.com\/10.1007\/s00181-010-0369-4"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2010,5,13]]},"references-count":30,"journal-issue":{"issue":"2","published-print":{"date-parts":[[2011,10]]}},"alternative-id":["369"],"URL":"https:\/\/doi.org\/10.1007\/s00181-010-0369-4","relation":{},"ISSN":["0377-7332","1435-8921"],"issn-type":[{"type":"print","value":"0377-7332"},{"type":"electronic","value":"1435-8921"}],"subject":[],"published":{"date-parts":[[2010,5,13]]}}}