Government deficit sustainability, and monetary versus fiscal dominance:the case of Spain, 1850-2000

In this paper, we provide a test of the sustainability of the Spanish government deficit over the period 1850-2000, emphasizing the role played by monetary and fiscal dominance in order to get fiscal solvency. Since the condition of fiscal solvency was satisfied, government deficit would have been sustainable along the sample period. In addition, the whole period can be characterized as one of fiscal dominance.

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Year of publication:	2014-09
Authors:	Bajo-Rubio, Oscar ; Díaz-Roldán, Carmen ; Esteve, Vicente
Institutions:	Instituto Universitario de Análisis Económico y Social (IAES), Universidad de Alcalá de Henares
Subject:	Fiscal policy \| Sustainability \| Fiscal Theory of the Price Level \| Monetary dominance \| Fiscal dominance

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Extent:	application/pdf
Series:	Working Papers. - ISSN 2172-2856.
Type of publication:	Book / Working Paper
Notes:	Number 09/14 26 pages
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010900308