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Macroeconomic effects of Catalan fiscal deficit with the Spanish state (2002-2010)

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  • Jordi Pons-i-Novell
  • Ramon Tremosa-i-Balcells

Abstract

According to Eurostat Regional data for the period 1996-1999 Catalan convergence with the EU's most dynamic regions has been blocked. In this paper, with the aim to analyse how Catalonia can converge with the EU in the forthcoming years, some simulations of Catalan GDP growth in the 2010 horizon have been estimated, considering different reduction scenarios of Catalan fiscal deficit with the Spanish state (between 7-9% of Catalan yearly GDP). Looking at the results obtained, the current Catalan stagnation will persist for the next few years if the above-mentioned fiscal deficit does not change. Thus, Catalonia will only converge with most dynamic EU regions if there is a significant reduction of Catalan fiscal deficit with the Spanish state.

Suggested Citation

  • Jordi Pons-i-Novell & Ramon Tremosa-i-Balcells, 2005. "Macroeconomic effects of Catalan fiscal deficit with the Spanish state (2002-2010)," Applied Economics, Taylor & Francis Journals, vol. 37(13), pages 1455-1463.
  • Handle: RePEc:taf:applec:v:37:y:2005:i:13:p:1455-1463 DOI: 10.1080/00036840500109134
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    References listed on IDEAS

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    1. William D. Nordhaus, 2002. "The Economic Consequences of a War with Iraq," Cowles Foundation Discussion Papers 1387, Cowles Foundation for Research in Economics, Yale University.
    2. Joan Costa-i-Font & Ramon Tremosa-i-Balcells, 2003. "Spanish Regions and the Macroeconomic Benefits of the European Monetary Union," Regional Studies, Taylor & Francis Journals, vol. 37(3), pages 217-226.
    3. Stefan Mittnik & Thorsten Neumann, 2001. "Dynamic effects of public investment: Vector autoregressive evidence from six industrialized countries," Empirical Economics, Springer, pages 429-446.
    4. Olivier Blanchard & Roberto Perotti, 2002. "An Empirical Characterization of the Dynamic Effects of Changes in Government Spending and Taxes on Output," The Quarterly Journal of Economics, Oxford University Press, pages 1329-1368.
    5. Alberto Abadie & Javier Gardeazabal, 2001. "The Economic Costs of Conflict: A Case-Control Study for the Basque Country," NBER Working Papers 8478, National Bureau of Economic Research, Inc.
    6. Joan Costa-i-Font & Ramon Tremosa-i-Balcells, "undated". "Spanish Regions and the Macroeconomic Benefits of European Monetary Union (EMU)," Studies on the Spanish Economy 89, FEDEA.
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    Cited by:

    1. Costa-i-Font, Joan, 2010. "Unveiling vertical state downscaling: identity and/or the economy?," LSE Research Online Documents on Economics 27750, London School of Economics and Political Science, LSE Library.
    2. Joan Costa-i-Font, 2010. "Unveiling Vertical State Downscaling: Identity and/or the Economy?," LEQS – LSE 'Europe in Question' Discussion Paper Series 20, European Institute, LSE.

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