Bajo-Rubio, Oscar; Díaz-Roldán, Carmen; Esteve, Vicente - Asociación Española de Economía y Finanzas … - 2010
We provide a test of the sustainability of the Spanish government deficit over the period 1850-2000, from the estimation of a cointegration relationship between government expenditures and revenues derived from the intertemporal budget constraint. The longer than usual span of the data allows us...