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Was Spanish fiscal policy destabilizing? We estimate policy reaction functions and test the impact of fiscal shocks on growth volatility over the period 19501998. We find that a transition from pro-cyclical to countercyclical fiscal policy occurred in the late years of the Franco regime,...
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--not ideology--drove Hitler's Iberian intervention. The Nazis hoped to establish an economic empire in Europe, and in Spain they … absorbed Spain into an informal empire, extending control over key Spanish resources in order to fuel its own burgeoning war …
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