Download or read book The Macroeconomic Effects of Fiscal Policy in Spain written by Francisco de Castro Fernández and published by . This book was released on 2003 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Macroeconomic Effects of Fiscal Policy in Spain written by Francisco de Castro and published by . This book was released on 2003 with total page 49 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Spain Selected Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2006-06-14 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper quantifies the macroeconomic effects of fiscal policy in Spain, focusing on the external sector. It describes the stylized facts of the Spanish economy and presents an econometric analysis. It examines Spain's growth and productivity performance in relation to a broad sample of peer economies with an emphasis on recent trends and growth implications. It also employs growth accounting and discusses the productivity lag of Spain.
Download or read book The Economic Effects of Fiscal Policy written by Simon Sosvilla-Rivero and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Previous research considered the impacts of fiscal policy on economic activity in Spain using Vector autoregression (VAR) models. In this paper, we contribute to the existing literature by making use of autoregressive distributed lag estimation procedures that present significant advantages over the VAR alternative. Our econometric methodology is data-driven, and it allows us to select the statistical model that best approximates the relationship between the variables under study and to assess short- and long-run symmetric and asymmetric effects of fiscal policy on output performance. Using quarterly time-series data for Spain covering the period 1980Q1-2020Q4, we offer quantitative estimates of these effects both for aggregated and disaggregated public expenditures and net revenues. These results would be helpful for policymakers in the design of a well-informed macroeconomic and public debt management strategy.
Download or read book The Macroeconomic Effects of Public Investment written by Mr.Abdul Abiad and published by International Monetary Fund. This book was released on 2015-05-04 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence of the macroeconomic effects of public investment in advanced economies. Using public investment forecast errors to identify the causal effect of government investment in a sample of 17 OECD economies since 1985 and model simulations, the paper finds that increased public investment raises output, both in the short term and in the long term, crowds in private investment, and reduces unemployment. Several factors shape the macroeconomic effects of public investment. When there is economic slack and monetary accommodation, demand effects are stronger, and the public-debt-to-GDP ratio may actually decline. Public investment is also more effective in boosting output in countries with higher public investment efficiency and when it is financed by issuing debt.
Download or read book Fiscal Reform in Spain written by Jorge Martinez-Vazquez and published by Edward Elgar Publishing. This book was released on 2007 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an analysis of the fiscal reform process experienced in Spain. This work focuses on the political economy of tax reform in Spain, and the fact that political and economic bodies were able to form alliances at key junctures during the process in order to push reforms forward.
Download or read book On the Determinants of Fiscal Non Compliance written by Victor Duarte Lledo and published by International Monetary Fund. This book was released on 2017-01-20 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes an empirical framework that distinguishes voluntary from involuntary compliance with fiscal deficit targets on the basis of economic, institutional, and political factors. The framework is applied to Spain’s Autonomous Communities (regions) over the period 2002-2015. Fiscal noncompliance among Spain’s regions has shown to be persistent. It increases with the size of growth forecast errors and the extent to which fiscal targets are tightened, factors not fully under the control of regional governments. Non-compliance also tends to increase during election years, when vertical fiscal imbalances accentuate, and market financing costs subside. Strong fiscal rules have not shown any significant impact in containing fiscal non-compliance. Reducing fiscal non-compliance in multilevel governance systems such as the one in Spain requires a comprehensive assessment of intergovernmental fiscal arrangements that looks beyond rules-based frameworks by ensuring enforcement procedures are politically credible.
Download or read book Analysis of fiscal policy in Spain written by Angel Luis Gómez Jiménez and published by . This book was released on 1996-01-01 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Macroeconomic Imbalances written by European Commission. Directorate-General for Economic and Financial Affairs and published by . This book was released on 2012 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 14 February 2012, the European Commission presented its first Alert Mechanism Report (AMR) in accordance with the Regulation (EU) No. 1176/2011 on the prevention and correction of macroeconomic imbalances. The AMR serves as an initial screening device to identify Member States that warrant further in depth analysis into whether imbalances exist or risk emerging. According to Article 5 of Regulation No. 1176/2011, these country-specific ?in-depth reviews? should examine the nature, origin and severity of macroeconomic developments in the Member State concerned, which constitute, or could lead to, imbalances. On the basis of this analysis, the Commission concludes whether it considers that an imbalance exists or not, and if so whether it is excessive or not, and what type of follow-up it will recommend to the Council to address to the Member State. This in-depth review concludes that Spain is experiencing very serious macroeconomic imbalances, which are not excessive but need to be urgently addressed. In particular, macroeconomic developments, notably related to the significant level of private sector debt, the large negative external position and the financial sector, which were influenced by housing market developments, require close monitoring and urgent economic policy attention in order to avert any adverse effects on the functioning of the economy and of economic and monetary union.
Download or read book The Economic Effects of Exogenous Fiscal Shocks in Spain written by Francisco de Castro and published by . This book was released on 2006 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Effects of Fiscal Policy on the Spanish Economy written by Alejandro Ricci-Risquete and published by . This book was released on 2016 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Can fiscal policy help to the ending of the economic crisis affecting Spain? Given this starting point, we study the effects on the Spanish economy of a shock to total public receipts or a shock to total public expenditure. With that objective in mind, we specify and estimate a vector error correction model with exogenous variables, using quarterly monetary and fiscal data for the Spanish Economy from 1978 to 2009.The results of our simulations show that the effects of shocks to Spanish total government receipts and total government expenditure on real variables are permanent, while their effects on nominal variables are temporary. The response of the Spanish real GDP to a positive shock to total government receipts is positive. In contrast, the response of the Spanish real GDP to a positive shock to total government expenditure is positive in the short run, but negative in the medium to long run. Consequently, these results suggest the existence of non-Keynesian effects related to a disturbance on public receipts and the presence of short-run Keynesian effects related to a disturbance on public expenditure. Both facts must be taken into account when formulating appropriated economic policy measures.
Download or read book Fiscal Policies in Spain written by Francisco De Castro and published by . This book was released on 2014 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On the Determinants of Fiscal Non Compliance written by Mar Delgado-Téllez and published by International Monetary Fund. This book was released on 2017-01-19 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper proposes an empirical framework that distinguishes voluntary from involuntary compliance with fiscal deficit targets on the basis of economic, institutional, and political factors. The framework is applied to Spain’s Autonomous Communities (regions) over the period 2002-2015. Fiscal noncompliance among Spain’s regions has shown to be persistent. It increases with the size of growth forecast errors and the extent to which fiscal targets are tightened, factors not fully under the control of regional governments. Non-compliance also tends to increase during election years, when vertical fiscal imbalances accentuate, and market financing costs subside. Strong fiscal rules have not shown any significant impact in containing fiscal non-compliance. Reducing fiscal non-compliance in multilevel governance systems such as the one in Spain requires a comprehensive assessment of intergovernmental fiscal arrangements that looks beyond rules-based frameworks by ensuring enforcement procedures are politically credible.
Download or read book Fiscal Policies in High Debt Euro Area Countries written by Antonella Cavallo and published by Springer. This book was released on 2017-11-15 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the role of national fiscal policies in a selected group of Euro-area countries under the European Economic and Monetary Union (EMU). In particular, the authors characterize the response of output to fiscal consolidations and expansions in the small Euro-area open economies affected by high public and private debt. It is shown that the macroeconomic outcome of fiscal shocks is strongly related to debt levels. The Euro-area countries included in the investigation are Greece, Ireland, Italy, the Netherlands, Spain, and Portugal, over the sample period 1999–2016, i.e., the EMU period. The main econometric tools used in this research are structural vector autoregressive (VAR) models, including panel VAR models. The available literature relating to the subject is also fully reviewed. A further closely investigated topic is the potential spillover effects of German fiscal policies on the selected small Euro-area economies. Moreover, in the perspective of the evolution of the Euro Area towards a full Monetary and Fiscal Union, the authors study the effects of area-wide government spending shocks on aggregate output and other macroeconomic variables during the EMU period. The closing chapter of the book considers evidence on the consequences of austerity policies for European labour markets during recent years.
Download or read book Spain written by International Monetary Fund. European Dept. and published by International Monetary Fund. This book was released on 2015-08-14 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper presents a preliminary assessment of recent labor market reforms in Spain, where the 2012 labor market reforms are making a difference. Wage moderation is contributing to a visible recovery in headline employment growth, and the reforms have made the labor market more resilient to shocks. Some evidence exists that the contribution of temporary contracts to employment growth has started to decrease. However, the reliance on temporary workers remains strong overall, and further structural reforms will be required to reduce the still very high level of long-term, structural unemployment.
Download or read book The Economic and Financial Situation in Spain written by Commission of the European Communities. Directorate-General for Economic and Financial Affairs and published by . This book was released on 1995 with total page 246 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The EMS Spain and Macroeconomic Policy written by José Viñals and published by . This book was released on 1990 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
