On the sustainability of the Spanish public budget performance Francisco de Castro, Pablo Hernández de Cos
By: Castro Fernández, Francisco de
.
Contributor(s): Hernández de Cos, Pablo.
Material type: 
ArticlePublisher: 2002Subject(s): COINTEGRACION | POLITICA FISCALOnline resources: Click here to access online
In:
Hacienda pública española nº 160, p. 9-27Summary: In this paper, we address the issue of whether the current fiscal policy in Spain is sustainable. For this purpose we apply traditional empirical test of fiscal sustainability proposed in the literature and, in addition, we introduce a deeper univariate analysis of the series involved. Our results show that a structural break seems to have taken place gradually in the Spanish budget performance, allowing to verifying the intertemporal borrowing constraint in a "strong sense", which means that no problems in marketing public debt are expected to arise if fiscal variables follow the pattern of the past in the future.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| IEF | HPE/2002/160-1 (Browse shelf) | Available | HPE/2002/160-1 |
Resumen. -- Conclusiones. -- Bibliografía
In this paper, we address the issue of whether the current fiscal policy in Spain is sustainable. For this purpose we apply traditional empirical test of fiscal sustainability proposed in the literature and, in addition, we introduce a deeper univariate analysis of the series involved. Our results show that a structural break seems to have taken place gradually in the Spanish budget performance, allowing to verifying the intertemporal borrowing constraint in a "strong sense", which means that no problems in marketing public debt are expected to arise if fiscal variables follow the pattern of the past in the future.
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