Poncela, Pilar; Senra, Eva; Sotelsek, Daniel; Zack, Guido - In: Hacienda Pública Española 210 (2014) 3, pp. 11-31
The recession that started in 2008 caused a sharp deterioration of the budget balance of Spain. This de-cline was not fully anticipated by the structural budget balance due to some methodology limitations. In this article, we calculate an alternative structural balance for Spain in the years...