Para lograr un adecuado equilibrio social y consolidar el funcionamiento del sistema democrático, los países han de contar con sistemas fiscales equitativos que favorezcan el desarrollo económico, que tengan capacidad recaudatoria para financiar un nivel adecuado de gasto público y con...

In this paper we present a stylised framework of fiscal policy determination that considers both structural targets and cyclical factors. Applying this framework to a sample of 16 OECD countries, we find evidence of significant asymmetry in the reaction of fiscal policy to positive and negative...

This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses it against new results from harmonised simulations, conducted with six well-established econometric models used by the ECB and five national central banks (NCBs) of the...