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Budgetary stability and structural reforms in Spain

Author

Listed:
  • Rafael Doménech
  • José Manuel González Páramo

Abstract

We analyse the fiscal policy lessons from the recent recession in the Spanish economy and the options for the future. Our results indicate that budget balance and public debt trends showed clear signs of unsustainability between 2009 and 2011, with few alternatives available other than reducing the fiscal deficit.

Suggested Citation

  • Rafael Doménech & José Manuel González Páramo, 2017. "Budgetary stability and structural reforms in Spain," Working Papers 17/11, BBVA Bank, Economic Research Department.
  • Handle: RePEc:bbv:wpaper:17/11
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    File URL: https://www.bbvaresearch.com/wp-content/uploads/2017/09/RD_JMGP_Budgetary_Stability_30apr2017_mod.pdf
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    References listed on IDEAS

    as
    1. Olivier J. Blanchard & Daniel Leigh, 2013. "Growth Forecast Errors and Fiscal Multipliers," American Economic Review, American Economic Association, vol. 103(3), pages 117-120, May.
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    Keywords

    Economic Analysis ; Spain ; Working Paper;

    JEL classification:

    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt

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