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- Cambio De Régimen Y Sostenibilidad A Largo Plazo De La Política Fiscal: El Caso De España

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Author Info

  • Cecilio R. Tamarit

    ()
    (Universitat de València)

  • Vicente Esteve Garcia

    ()
    (Universitat de València)

  • Mariam Camarero

    (Universitat Jaume I)

Abstract

In this paper, the Spanish fiscal policy sustainability is tested for the period 1964-1996. The theoretical framework used in this paper draws from Quintos (1995) where a distinction between weak and strong conditions for deficit sustainability is pointed out. From an empirical point of view, new cointegration techniques allowing for structural breaks in the long-run relationships as well as in the cointegration parameters are implemented in order to reach a deeper insight. En este trabajo se contrasta la sostenibilidad de la política fiscal en la economía española para el periodo 1964-1996 utilizando el planteamiento teórico propuesto en Quintos (1995). Desde el punto de vista empírico, la novedad del estudio radica en la utilización de nuevas técnicas de cointegración que recogen la posibilidad de cambios estructurales, tanto en las relaciones de largo plazo como en los parámetros de cointegración.

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File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-1998-15.pdf
File Function: Fisrt version / Primera version, 1998
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Bibliographic Info

Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie EC with number 1998-15.

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Length: 37 pages
Date of creation: Jun 1998
Date of revision:
Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:1998-15

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Related research

Keywords: sostenibilidad; política fiscal; cointegración; cambio de régimen sustainability; fiscal policy; cointegration; regimen shifts.;

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Cited by:
  1. Oscar Bajo-Rubio & Carmen Díaz-Roldán & Vicente Esteve, 2003. "Is the Budget Deficit Sustainable when Fiscal Policy is nonlinear? The Case of Spain, 1961-2001," Economic Working Papers at Centro de Estudios Andaluces E2003/32, Centro de Estudios Andaluces.
  2. Francisco De Castro & Pablo Hernández De Cos, 2002. "On the sustainability of the Spanish public budget performance," Hacienda Pública Española, IEF, vol. 160(1), pages 9-28, march.
  3. Regina Escario & María Dolores Gadea & Marcela Sabaté, 2009. "Government Solvency or just Pseudo-Sustainability? a Long-Run Multicointegration Approach for Spain," Documentos de Trabajo dt2009-07, Facultad de Ciencias Económicas y Empresariales, Universidad de Zaragoza.

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