A general equilibrium assessment of external and domestic shocks in Spain
After many years of growth, the Spanish economy plunged into the most severe and prolonged recession recorded since reliable national accounts data have been available. The main goal of this paper is to quantify the effects of the external and domestic shocks that hit the Spanish economy in 2008–2009 by employing a disaggregated general equilibrium model calibrated to a 2000 SAM elaborated by the authors. External shocks are simulated by employing the neoclassical closure (private investment is determined by domestic and external savings) and the Keynesian closure (investment is exogenous). External and domestic shocks are also jointly simulated with the Keynesian closure. The results provide a good approximation to observed changes in key macroeconomic variables.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Kehoe, Timothy J & Polo, Clemente & Sancho, Ferran, 1995.
"An Evaluation of the Performance of an Applied General Equilibrium Model of the Spanish Economy,"
Springer, vol. 6(1), pages 115-41, June.
- Timothy J. Kehoe & Clemente Polo & Ferran Sancho, 1994. "An evaluation of the performance of an applied general equilibrium model of the Spanish economy," Working Papers 480, Federal Reserve Bank of Minneapolis.
- Robinson, Sherman, 1991. "Macroeconomics, financial variables, and computable general equilibrium models," World Development, Elsevier, vol. 19(11), pages 1509-1525, November.
- Francois, Joseph & Bradley McDonald, 1996. "Liberalization and Capital Accumulation in the GTAP Model," GTAP Technical Papers 310, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
- Boeters, Stefan & Böhringer, Christoph & Büttner, Thiess & Kraus, Margit, 2006.
"Economic Effects of VAT Reform in Germany,"
ZEW Discussion Papers
06-30, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
- Kehoe, Timothy J. & Noyola, Pedro Javier & Manresa, Antonio & Polo, Clemente & Sancho, Ferran, 1988. "A general equilibrium analysis of the 1986 tax reform in Spain," European Economic Review, Elsevier, vol. 32(2-3), pages 334-342, March.
- Rattso, Jorn, 1982. "Different macroclosures of the original Johansen model and their impact on policy evaluation," Journal of Policy Modeling, Elsevier, vol. 4(1), pages 85-97, March.
- Devarajan, Shantayanan & Lewis, Jeffrey D & Robinson, Sherman, 1993. "External Shocks, Purchasing Power Parity, and the Equilibrium Real Exchange Rate," World Bank Economic Review, World Bank Group, vol. 7(1), pages 45-63, January.
- Roberts, Barbara M. & Zolkiewski, Zbigniew, 1996. "Modelling income distribution in countries in transition: A computable general equilibrium analysis for Poland," Economic Modelling, Elsevier, vol. 13(1), pages 67-90, January.
- Christoph Boehringer & Stefan Boeters & Michael Feil, 2004.
"Taxation and Unemployment: An Applied General Equilibrium Approach,"
CESifo Working Paper Series
1272, CESifo Group Munich.
- Bohringer, Christoph & Boeters, Stefan & Feil, Michael, 2005. "Taxation and unemployment: an applied general equilibrium approach," Economic Modelling, Elsevier, vol. 22(1), pages 81-108, January.
- Latorre, María C. & Bajo-Rubio, Oscar & Gómez-Plana, Antonio G., 2009. "The effects of multinationals on host economies: A CGE approach," Economic Modelling, Elsevier, vol. 26(5), pages 851-864, September.
- Learmonth, D. & McGregor, P.G. & Swales, J.K. & Turner, K.R. & Yin, Y.P., 2007. "The importance of the regional/local dimension of sustainable development: An illustrative Computable General Equilibrium analysis of the Jersey economy," Economic Modelling, Elsevier, vol. 24(1), pages 15-41, January.
When requesting a correction, please mention this item's handle: RePEc:eee:ecmode:v:29:y:2012:i:6:p:2486-2493. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.