The economic effects of fiscal policy: Further evidence for Spain
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...
| Autores: | , |
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| Tipo de recurso: | artículo |
| Fecha de publicación: | 2022 |
| País: | España |
| Institución: | Universidad Complutense de Madrid (UCM) |
| Repositorio: | Docta Complutense |
| Idioma: | inglés |
| OAI Identifier: | oai:docta.ucm.es:20.500.14352/71913 |
| Acceso en línea: | https://hdl.handle.net/20.500.14352/71913 |
| Access Level: | acceso abierto |
| Palabra clave: | C23 E62 H20 H30 H50 O52 Fiscal policy Public expenditure Tax revenues ARDL models NARDL models Econometría (Economía) Economía pública Hacienda Pública 5302 Econometría 5301 Política Fiscal y Hacienda Publica Nacionales |
| Sumario: | 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. |
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