The economic effects of fiscal policy: The case of Spain

Journal of Macroeconomics

Volumn 30, Issue 3, 2008, Pages 1005-1028

  de Castro, Francisco ^a   Hernández de Cos, Pablo ^a  

^a BANCO DE ESPAÑA   (Spain)

Author keywords

Fiscal multipliers; Fiscal shocks; VAR

Indexed keywords

EID: 49649100689     PISSN: 01640704     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jmacro.2007.08.009     Document Type: Article

References (30)

1. Alesina A., Ardagna S., Perotti R., and Schiantarelli F. Fiscal policy, profits and investment. American Economic Review 92 (2002) 571-589
2. Beetsma R., Giuliodori M., and Klaassen F. Trade spill-overs of fiscal policy in the european union: A panel analysis. Economic Policy 21 (2006) 640-687
3. Blanchard O.J., and Perotti R. An empirical characterization of the dynamic effects of changes in government spending and taxes on output. Quarterly Journal of Economics 117 4 (2002) 1329-1368
4. Bouthevillain, C., Cour-Thimann, P., van den Dool, G., Hernández de Cos, P., Langenus, G., Mohr, M., Momigliano, S., Tujula, M., 2001. Cyclically adjusted budget balances: An alternative approach. ECB Working Paper Series No. 77.
5. Burnside C., Eichenbaum M., and Fisher J.D.M. Assessing the Effects of Fiscal Shocks (1999), Northwestern University, Mimeo
6. Canzoneri, M., Cumby, R., Diba, B., 2002. Should the European Central Bank and the Federal Reserve be concerned about fiscal policy. Paper prepared for the FRBKC's Jackson Hole Symposium on Rethinking Stabilization Policy, August.
7. Corsetti G., and Müller G.J. Twin deficits: Squaring theory, evidence and common sense. Economic Policy 21 (2006) 598-638
8. de Castro F., González-Páramo J.M., and Hernández de Cos P. Fiscal consolidation in Spain: Dynamic interdependence of public spending and revenues. Investigaciones Económicas XXXVIII 1 (2004) 193-207
9. de Castro F. The macroeconomic effects of fiscal policy in Spain. Applied Economics 38 (2006) 913-924
10. Edelberg, W., Eichenbaum, M., Fisher, J.D.M., 1998. Understanding the effects of a shock to government purchases. NBER Working Paper Series No. 6737.
11. Estrada, A., de Castro, F., Hernando, I., Vallés, J., 1997. La Inversión en España. Banco de España, Estudios Económicos No. 61.
12. Estrada, A., Fernández, J.L., Moral, E., Regil, A.V., 2004. A quarterly macroeconometric model of the Spanish economy. Banco de España Working Paper No. 0413.
13. European Commission, 2003. Public finances in EMU. European Economy, Reports and Studies 3.
14. Fatás, A., Mihov, I., 2001. The effects of fiscal policy on consumption and employment: Theory and evidence. CEPR Discussion Paper Series No. 2760.
15. Favero, C., 2002. How do European monetary and fiscal authorities behave? CEPR Discussion Paper Series No. 3426.
16. Galí, J., López-Salido, D., Vallés, J., 2003. Understanding the effects of government spending on consumption. Banco de España Working Paper No. 0321.
17. Galí, J., Perotti, R., 2003. Fiscal policy and monetary integration in Europe. NBER Working Paper Series No. 9773.
18. Giavazzi F., and Pagano M. Can severe fiscal contractions be expansionary? Tales of two small European countries. NBER Macroeconomics Annual 5 (1990) 75-111
19. Giorno C., Richardson P., Roseveare D., and van den Noord P. Potential output, output gaps and structural budget balances. OECD Economic Studies (1995) 24
20. Giudice, G., Turrini, A., in't Veld, J., 2003. Can fiscal consolidations be expansionary in the EU? Ex-post evidence and ex-ante analysis. European Commission, Economic Papers No. 195.
21. Giuliodori M., and Beetsma R. What are the trade spill-overs from fiscal shocks in Europe? An empirical analysis. De Economist 153 (2005) 167-197
22. Henry, J, Hernández de Cos, P., Momigliano, S., 2004. The short-term impact of government budgets on prices: Evidence from macroeconometric models. Banco de España Working Paper No. 0418.
23. Marcellino, M., 2002. Some stylized facts on non-systematic fiscal policy in the Euro area. CEPR Working Paper Series No. 3635.
24. Mountford, A., Uhlig, H., 2002. What are the effects of fiscal policy shocks? CEPR Working Paper Series No. 3338.
25. Neri, S., 2001. Assessing the effects of monetary and fiscal policy. Banca d'Italia Discussion Papers No. 425.
26. Perotti R. Fiscal policy in goods times and bad. Quarterly Journal of Economics 114 4 (1999) 1399-1436
27. Perotti R. What do we know about the effects of fiscal policy?. In: Bordignon M., and da Empoli D. (Eds). Politica Fiscale flessibilità dei mercati e crescita (2001), Franco Angeli, Milano
28. Perotti, R., 2004. Estimating the effects of fiscal policy in OECD countries. In: Proceedings, Federal Reserve Bank of San Francisco.
29. Ramey, V., Shapiro, M., 1998. Costly capital reallocation and the effects of government spending. NBER Working Paper Series No. 6283.
30. Van den Noord, P., 2000. The size and role of automatic fiscal stabilizers in the 1990s and beyond. OECD Working Paper No. 230.