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- Cambio De Régimen Y Sostenibilidad A Largo Plazo De La Política Fiscal: El Caso De España

Author

Listed:
  • Cecilio R. Tamarit

    () (Universitat de València)

  • Vicente Esteve Garcia

    () (Universitat de València)

  • Mariam Camarero

    (Universitat Jaume I)

Abstract

In this paper, the Spanish fiscal policy sustainability is tested for the period 1964-1996. The theoretical framework used in this paper draws from Quintos (1995) where a distinction between weak and strong conditions for deficit sustainability is pointed out. From an empirical point of view, new cointegration techniques allowing for structural breaks in the long-run relationships as well as in the cointegration parameters are implemented in order to reach a deeper insight. En este trabajo se contrasta la sostenibilidad de la política fiscal en la economía española para el periodo 1964-1996 utilizando el planteamiento teórico propuesto en Quintos (1995). Desde el punto de vista empírico, la novedad del estudio radica en la utilización de nuevas técnicas de cointegración que recogen la posibilidad de cambios estructurales, tanto en las relaciones de largo plazo como en los parámetros de cointegración.

Suggested Citation

  • Cecilio R. Tamarit & Vicente Esteve Garcia & Mariam Camarero, 1998. "- Cambio De Régimen Y Sostenibilidad A Largo Plazo De La Política Fiscal: El Caso De España," Working Papers. Serie EC 1998-15, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  • Handle: RePEc:ivi:wpasec:1998-15
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    File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-1998-15.pdf
    File Function: Fisrt version / Primera version, 1998
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    Citations

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    Cited by:

    1. Bajo-Rubio, Oscar & Diaz-Roldan, Carmen & Esteve, Vicente, 2006. "Is the budget deficit sustainable when fiscal policy is non-linear? The case of Spain," Journal of Macroeconomics, Elsevier, vol. 28(3), pages 596-608, September.
    2. Francisco De Castro & Pablo Hernández De Cos, 2002. "On the sustainability of the Spanish public budget performance," Hacienda Pública Española, IEF, vol. 160(1), pages 9-28, march.
    3. Regina Escario & María Dolores Gadea & Marcela Sabaté, 2009. "Government Solvency or just Pseudo-Sustainability? a Long-Run Multicointegration Approach for Spain," Documentos de Trabajo dt2009-07, Facultad de Ciencias Económicas y Empresariales, Universidad de Zaragoza.

    More about this item

    Keywords

    sostenibilidad; política fiscal; cointegración; cambio de régimen sustainability; fiscal policy; cointegration; regimen shifts.;

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics
    • N10 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - General, International, or Comparative

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