Fiscal Policies in Spain: Main Stylised Facts Revisited

49 Pages Posted: 13 May 2014

See all articles by Francisco de Castro

Francisco de Castro

Banco de España

Francisco Marti

Banco de España

Antonio Montesinos

Banco de España

Javier J. Pérez

Banco de España - Research Department

Antonio Jesus Sanchez Fuentes

Universidad Complutense de Madrid (UCM); Universidad Complutense de Madrid (UCM) - Institute of International Studies (ICEI)

Date Written: May 13, 2014

Abstract

We provide key stylised facts on fiscal policy developments in Spain over the past three decades using quarterly data (1986Q1-2012Q2). First, we compute stylised facts on the cyclical properties of fiscal policies over that period. Next, we report updated evidence on the macroeconomic effects of non-systematic fiscal policies, including updated estimates of their macroeconomic impact (fiscal multipliers) for alternative datasets. To perform the analysis in the paper we built up a comprehensive database of seasonally adjusted quarterly fiscal variables for the period of interest.

Keywords: fiscal policies, stylised facts, fiscal multipliers, mixed-frequencies, time-series models

JEL Classification: E62; E65; H6; C3; C82

Suggested Citation

Castro, Francisco de and Marti, Francisco and Montesinos, Antonio and Perez, Javier J. and Sanchez Fuentes, Antonio Jesus, Fiscal Policies in Spain: Main Stylised Facts Revisited (May 13, 2014). Banco de Espana Working Paper No. 1408. Available at SSRN: https://ssrn.com/abstract=2436315 or http://dx.doi.org/10.2139/ssrn.2436315

Francisco de Castro (Contact Author)

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Francisco Marti

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Antonio Montesinos

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Javier J. Perez

Banco de España - Research Department ( email )

Alcala 50
28014 Madrid
Spain

HOME PAGE: http://www.bde.es/investigador/staff/95.htm

Antonio Jesus Sanchez Fuentes

Universidad Complutense de Madrid (UCM) ( email )

Madrid, 28040
Spain

Universidad Complutense de Madrid (UCM) - Institute of International Studies (ICEI) ( email )

Collado Villalba, Madrid, 28400
United States

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