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Fiscal policy and the Spanish business cycle

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  • Juan Solé López-Pinto

    ()
    (University of Minnesota and Federal Reserve Bank of Minneapolis, Research Department, 90 Hennepin Ave. P.O.Box 291, Minneapolis, MN 55480-0291, USA)

Abstract

A main result of the RBC literature is that technological factors drive fluctuations of macroeconomic variables around its long-run growth path. Nevertheless, it has been shown that in some countries fluctuations of some fiscal variables may explain some of the business cycle fluctuations. In this paper I show that a result of this sort can be obtained for the Spanish economy. Specifically, I use both technological and fiscal shocks to reproduce the observed volatility of hours of work to output, hours of work to average productivity, and the negative correlation between hours and average productivity.

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Bibliographic Info

Article provided by Springer in its journal Spanish Economic Review.

Volume (Year): 3 (2001)
Issue (Month): 4 ()
Pages: 295-311

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Handle: RePEc:spr:specre:v:3:y:2001:i:4:p:295-311

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Related research

Keywords: Fiscal policy; business fluctuations; time-series models;

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Cited by:
  1. Jaime Alonso-Carrera & Baltasar Manzano, 2002. "Análisis dinámico del coste de bienestar del sistema impositivo español. Una exploración cuantitativa," Working Papers 0207, Universidade de Vigo, Departamento de Economía Aplicada.

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