000			02068nab#a2200277#c#4500
003			IEF
005			20180219163206.0
008			170911s2017 GBR|| #####0 b|ENG|u
040			_aIEF
041			_aENG
100	1		_aUxó González, Jorge _944526
245			_aIs the end of fiscal austerity feasible in Spain ? _b an alternative planto the current stability programme ( 2015 - 2018 ) _c Jorge Uxó and Ignacio Álvarez
260			_c2017
500			_aDisponible también en línea a través de la Biblioteca del Instituto de Estudios Fiscales. Resumen. Bibliografía.
650		4	_aPOLITICA FISCAL _948067
650		4	_aGASTO PUBLICO _944787
650		4	_aINCREMENTO _954834
650		4	_aPOLITICA DE GASTO PUBLICO _948053
650		4	_aESPAÑA _941092
520			_aThe Spanish authorities have implemented strongly restrictive fiscal policies with anegative impact on GDP and employment, especially during therecession of 2011.2013. This paper shows that the end of fiscal austerity is feasible for Spain. Adoptinga .functional finance. approach to fiscal policy and making a (partial) use of the ideaof Balanced Budget Expansion, we present an alternative fiscal policy for the years2016.2018 which is not focused on deficit reduction, but on employment creation and on the development of social andstructural policies aimed at a real transformation of the Spanish economy. The two main components of this plan are a progressive fiscal reform to increase public revenue over GDP, and a simultaneous increase in the ratio of public expenditure over GDP. With the aid of a three-equation model,this paper proves that an alternative plan to austerity can be not only expansionarybut also fully compatible with fiscal sustainability. The choice, then, lies betweenprioritisingeither the rate at which unemployment is reduced or at which publicdeficit isreduced.
700	1		_aÁlvarez Peralta, Ignacio _951982
773	0		_tCambridge Journal of Economics _w69181 _gv. 41, n. 4, July 2017, p. 999-1020
942			_cART
942			_z148476
999			_c79277 _d79277