Mistakes in the Fiscal Policy in Spain before the Crisis
The paper analyses the mistakes made in the management of the fiscal policy in Spain before the crisis. The authors argue that the low size of the public expenditures, the adoption of a procyclical expansionary fiscal policy the years before the crisis, and the lack of a correct coordination between the Spanish fiscal policy and the ECBâ€™s monetary policy, are key elements to understand the depth and length of the economic crisis and the current high fiscal imbalances in Spain.
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.:
- repec:mes:postke:v:35:y:2012:i:2:p:187-213 is not listed on IDEAS
- Luc Eyraud & Anke Weber, 2013. "The Challenge of Debt Reduction during Fiscal Consolidation," IMF Working Papers 13/67, International Monetary Fund.
- Derek Anderson & Ben Hunt & Mika Kortelainen & Michael Kumhof & Douglas Laxton & Dirk Muir & Susanna Mursula & Stephen Snudden, 2013. "Getting to Know GIMF; The Simulation Properties of the Global Integrated Monetary and Fiscal Model," IMF Working Papers 13/55, International Monetary Fund.
- Rafael Domenech & Javier Andres & Antonio Fatas, 2006.
"The Stabilizing Role of Government Size,"
0603, International Economics Institute, University of Valencia, revised Jan 2007.
- Javier Andrés & Rafael Doménech & Antonio Fatás, 2007. "The stabilizing role of government size," Banco de Espa�a Working Papers 0710, Banco de Espa�a.
- Andrés, Javier & Doménech, Rafael & Fatás, Antonio, 2004. "The Stabilizing Role of Government Size," CEPR Discussion Papers 4384, C.E.P.R. Discussion Papers.
- Felipe Serrano, 2010. "The Spanish fiscal policy during the recent "great recession"," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 32(3), pages 371-388, April.
- Young Lee & Taeyoon Sung, 2007. "Fiscal Policy, Business Cycles and Economic Stabilisation: Evidence from Industrialised and Developing Countries," Fiscal Studies, Institute for Fiscal Studies, vol. 28(4), pages 437-462, December.
- Roberto Perotti, 2012.
"The "Austerity Myth": Gain without Pain?,"
in: Fiscal Policy after the Financial Crisis, pages 307-354
National Bureau of Economic Research, Inc.
- Alan J. Auerbach & Yuriy Gorodnichenko, 2012.
"Measuring the Output Responses to Fiscal Policy,"
American Economic Journal: Economic Policy,
American Economic Association, vol. 4(2), pages 1-27, May.
- Philip Arestis, 2011. "Fiscal Policy Is Still an Effective Instrument of Macroeconomic Policy," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(2), pages 143-156, June.
- Fatás, Antonio & Mihov, Ilian, 1999.
"Government Size and Automatic Stabilizers: International and Intranational Evidence,"
CEPR Discussion Papers
2259, C.E.P.R. Discussion Papers.
- Fatas, Antonio & Mihov, Ilian, 2001. "Government size and automatic stabilizers: international and intranational evidence," Journal of International Economics, Elsevier, vol. 55(1), pages 3-28, October.
- Lawrence Christiano & Martin Eichenbaum & Sergio Rebelo, 2009.
"When is the government spending multiplier large?,"
NBER Working Papers
15394, National Bureau of Economic Research, Inc.
- Philip Arestis, 2012. "Fiscal policy: a strong macroeconomic role," Review of Keynesian Economics, Edward Elgar, vol. 1(0), pages 93-108.
- Michael Bergman, 2011. "Best in Class: Public Finances in Sweden during the Financial Crisis," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(4), pages 431-453, December.
- Roberto Perotti, 2011. "The "Austerity Myth": Gain without Pain?," Working Papers 430, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
- Perotti, Roberto, 2011. "The "Austerity Myth": Gain without Pain?," CEPR Discussion Papers 8658, C.E.P.R. Discussion Papers.
- Anja Baum & Marcos Poplawski-Ribeiro & Anke Weber, 2012. "Fiscal Multipliers and the State of the Economy," IMF Working Papers 12/286, International Monetary Fund.
- Hein, Eckhard & Truger, Achim, 2010.
"Finance-dominated capitalism in crisis: The case for a Global Keynesian New Deal,"
IPE Working Papers
06/2010, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
- Hein, Eckhard & Truger, Achim, 2010. "Finance-dominated capitalism in crisis – the case for a Global Keynesian New Deal," MPRA Paper 21175, University Library of Munich, Germany.
- Yiannis Kitromilides, 2011. "Deficit reduction, the age of austerity, and the paradox of insolvency," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 33(3), pages 517-536, April.
- Giovanni Callegari & Giovanni Melina & Nicoletta Batini, 2012. "Successful Austerity in the United States, Europe and Japan," IMF Working Papers 12/190, International Monetary Fund.
- Roberto Perotti, 2011. "The "Austerity myth": Gain Without Pain?," BIS Working Papers 362, Bank for International Settlements.
- Philip Arestis & Malcolm Sawyer, 2013. "Moving from Inflation Targeting to Prices and Incomes Policy," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 60(1), pages 1-17, March.
When requesting a correction, please mention this item's handle: RePEc:voj:journl:v:60:y:2013:i:5:p:577-592. 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: (Ivana Horvat)The email address of this maintainer does not seem to be valid anymore. Please ask Ivana Horvat to update the entry or send us the correct address
If references are entirely missing, you can add them using this form.