The economic effects of fiscal policy: Further evidence for Spain
Los efectos económicos de la política fiscal: Evidencia adicional para España

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Sosvilla-Rivero, Simon and Rubio Guerrero, Juan Jose (2022) The economic effects of fiscal policy: Further evidence for Spain. Quarterly Review of Economics and Finance, 86 . pp. 305-313. ISSN 1062-9769

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Official URL: https://doi.org/10.1016/j.qref.2022.08.002



Abstract

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.


Item Type:Article
Additional Information:

CRUE-CSIC (Acuerdos Transformativos 2022)

Uncontrolled Keywords:Fiscal policy; Public expenditure; Tax revenues; ARDL models; NARDL models
Subjects:Social sciences > Economics > Econometrics
Social sciences > Economics > Public economy
Social sciences > Economics > Public finance
JEL:C23, E62, H20, H30, H50, O52
ID Code:74233
Deposited On:31 Aug 2022 11:41
Last Modified:14 Sep 2022 16:11

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