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A Quarterly Fiscal Database Fit for Macroeconomic Analysis

Author

Listed:
  • Francisco de Castro

    (European Commission)

  • Francisco Martí

    (Banco de España)

  • Antonio Montesinos

    (Banco de España)

  • Javier J. Pérez

    (Banco de España)

  • Antonio Jesús Sánchez Fuentes

    (Instituto Complutense de Estudios Internacionales (UCM)&GEN)

Abstract

The study of the macroeconomic effects of tax changes and public spending plans has regained footing recently. Nevertheless, in many occasions, the shortcomings of available official data pose limits to the type of approach analysts can pursue. While this issue receives traditionally limited attention, it is of utmost relevance for policy makers and academics alike. Against this framework, in this paper we construct a quite disaggregated quarterly fiscal database of Spanish seasonallyadjusted public finance variables for the period 1986Q1-2015Q4, in national accounts terms. Following a recent strand of the literature, we pose special emphasis on the models and data ingredients used. The later includes a rich set of input fiscal data taken from budgetary accounts. We illustrate the use of our data by providing key stylized facts on the cyclical properties of fiscal policies over the past three decades.

Suggested Citation

  • Francisco de Castro & Francisco Martí & Antonio Montesinos & Javier J. Pérez & Antonio Jesús Sánchez Fuentes, 2018. "A Quarterly Fiscal Database Fit for Macroeconomic Analysis," Hacienda Pública Española / Review of Public Economics, IEF, vol. 224(1), pages 139-155, March.
  • Handle: RePEc:hpe:journl:y:2018:v:224:i:1:p:139-155
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    References listed on IDEAS

    as
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    Cited by:

    1. Gomez-Gonzalez, Patricia & Rees, Daniel M., 2018. "Same Spain, less pain?," European Economic Review, Elsevier, vol. 110(C), pages 78-107.
    2. Alloza, Mario & Andrés, Javier & Pérez, Javier J. & Rojas, Juan A., 2020. "Implicit public debt thresholds: An operational proposal," Journal of Policy Modeling, Elsevier, vol. 42(6), pages 1408-1424.
    3. Alloza, Mario & Burriel, Pablo & Pérez, Javier J., 2019. "Fiscal policies in the euro area: Revisiting the size of spillovers," Journal of Macroeconomics, Elsevier, vol. 61(C), pages 1-1.
    4. Mara Leticia Rojas, 2020. "La economía argentina ayer y hoy: hechos estilizados y des-estilizados," Asociación Argentina de Economía Política: Working Papers 4400, Asociación Argentina de Economía Política.
    5. Mario Alloza & Marien Ferdinandusse & Pascal Jacquinot & Katja Schmidt, 2020. "Fiscal expenditure spillovers in the euro area: An empirical and model-based assessment," Occasional Papers 2012, Banco de España.

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    More about this item

    Keywords

    Fiscal data; fiscal policies; mixed-frequencies; time-series models;
    All these keywords.

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • H6 - Public Economics - - National Budget, Deficit, and Debt
    • C3 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables
    • C82 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data; Data Access

    Statistics

    Access and download statistics

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