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

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

Author Info

Cecilio R. Tamarit () (Universitat de València)
Vicente Esteve Garcia () (Universitat de València)
Mariam Camarero (Universitat Jaume I)

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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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Publisher 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
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Publication status: Published by Ivie
Handle: RePEc:ivi:wpasec:1998-15

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Find related papers by JEL classification:
E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
N10 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations - - - General, International, or Comparative

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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. [Downloadable!]
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. [Downloadable!]

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