Purpose: The purpose of this paper, on Portugal, is to determine the economic effects of public and private capital spending on health. Design/methodology/approach: The authors use a vector autoregressive model to estimate the elasticities and marginal products of health care investments in...

The authors use an endogenous growth dynamic general-equilibrium model, which accommodates the institutional constraints of the Stability and Growth Pact, to study tax reform in Portugal. Simulation results suggest that tax cuts financed in a nondistortionary way increase long-term GDP; i.e.,...

In this paper we analyze a tax reform package recently proposed in Cavaco Silva (1999). We do so in the context of a dynamic general-equilibrium model of the Portuguese economy and we focus on the efficiency, welfare, and tax revenue effects of this package. Simulation results suggest that the...

This paper reports on a simple exercise in the long-term sustainability of public finances. In particular, focusing on Portugal, it assesses the impact that an ageing population is expected to have on public pension expenditure over the next fifty years. We carry out such an exercise in...

Pereira and Rodrigues discuss tax reform in Portugal on the basis of a dynamic general equilibrium model where the tax system influences long-term growth through its effects on the demand for capital and labor. The model is simulated by implementing the tax reform package proposed in 1999 by a...