Castro, Francisco de; González-Páramo, José Manuel; … - In: Investigaciones Economicas 28 (2004) 1, pp. 193-207
analyse the possible interdependence between expenditure and revenues by performing standard Granger causality tests. We find … that there is a bias towards defficit in public sector size and long-run bidirectional causality between public revenues … and expenditure, although the direction of causality seems to hold mainly from public expenditure to revenues. Achieving …