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Importancia De Las Perturbaciones Externas En La Economía Española Tras La Integración: ¿Tamaño Del Shock O Grado De Respuesta?


  • Pedro José Pérez

    () (Universitat de València)

  • José Ramón García

    (Dpto. Análisis Económico, Universitat de València)

  • Luisa Escriche

    (Universitat de València)


This paper analyses whether the impact of European shocks in the Spanisheconomy has increased after the entry of Spain in the European Community. UsingVAR models, we try to disentangle whether the change in the importance of Europe isdue to a change in the size of the shocks or in the propagation effects. The results showsthat after 1986, despite the decrease in the size of European shocks, their impact on theSpanish business cycle has increases due to a larger sensitivity of the Spanish economyto these shocks. El objetivo de este trabajo es analizar si ha aumentado la influencia de los shocks europeos en la economía española tras el proceso de integración en Europa, distinguiendo si los cambios observados se deben a un cambio en la magnitud relativa de los shocks (mundiales, europeos e internos) y/o a cambios en el grado de respuesta. Los resultados muestran que los efectos de un shock europeo han aumentado: un shock del mismo tamaño afectaría hoy más a la economía española de lo que lo hacía en los setenta, mientras que un shock doméstico provocaría hoy una respuesta sustancialmente menor.

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  • Pedro José Pérez & José Ramón García & Luisa Escriche, 2005. "Importancia De Las Perturbaciones Externas En La Economía Española Tras La Integración: ¿Tamaño Del Shock O Grado De Respuesta?," Working Papers. Serie EC 2005-07, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  • Handle: RePEc:ivi:wpasec:2005-07

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    References listed on IDEAS

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    Cited by:

    1. Juan Sebastián Castillo & Mª Carmen García Cortijo, 2014. "Las exportaciones españolas de vino, 1986-2012: dinámicas gravitacionales," Historia Agraria. Revista de Agricultura e Historia Rural, Sociedad Española de Historia Agraria, issue 64, pages 103-130, december.

    More about this item


    fluctuaciones económicas; integración europea; volatilidad economic fluctuations; European integration; volatility;

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

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